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U.S. Treasury Market Action on Election Night 2016

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Abstract

As the midterm elections approach, it’s worth revisiting the striking financial market response to the last federal elections in 2016. U.S. equity market futures and Treasury yields first plunged on election night 2016, as the presidential election results turned out closer than expected, but quickly rebounded after President Trump’s victory became clear, ultimately ending the day higher. In this post, I take a close look at the unusual U.S. Treasury market behavior that night, focusing on the market conditions and trading flows amid which the sharp yield changes took place.

Suggested Citation

  • Michael J. Fleming, 2018. "U.S. Treasury Market Action on Election Night 2016," Liberty Street Economics 20181026, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:87292
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    More about this item

    Keywords

    election; price impact; order flow; Treasury market;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets

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