The Republican Party takes the lead and secures the Senate

On November 6th, in the US presidential election, the Republican Party took control of the US Senate, giving them significant influence in the high-stakes tax and spending battle, as well as the final say in the executive and judicial nominations of the next president. The prospect of Trump winning the presidential election has grown, triggering a sharp dumping in the bond market. Traders speculate that his tax and tariff policies will exacerbate inflationary pressures and keep the federal fund interest rate high. Any new tax bill will require approval from the Republican-controlled Senate, but the balance of power on how to handle the expiration of tax cuts still depends on which party controls the presidency and the US House of Representatives. The Democratic Party even holds a slim majority in the Senate in this election, and since senators serve six-year terms, only one-third of senators face re-election in this election. (Jinshi)