[Democrats sweep midterm elections, 2-year Treasury yields fall to two-month low] According to a report by Jinse Finance on November 4th, citing the Wall Street Journal, US Treasury yields fell across the board during Wednesday's Asian trading session. According to Tradeweb data, the 2-year Treasury yield once fell to 4.546%, its lowest level in two months, before recovering slightly to its latest decline of 0.8 basis points to 4.604%. The 10-year Treasury yield fell 1.5 basis points to 4.934%. Elisabet Kopelman, a US economist at Nordea Bank and a Fed watcher, stated in a report that they expect changes in the power structure of Congress to drive slightly expansionary fiscal policy while also hindering the passage of large-scale spending plans, such as Trump's demand for $1.5 trillion for the Pentagon in the budget. Given that the US budget deficit is already on an unsustainable track, this is not necessarily bad news for the bond market, but it is not enough to bring about sustainable improvement. Currently, neither party, including the president, seems to be prioritizing the budget deficit issue.