Political uncertainty due to Trump attack raises speculation, dollar strengthens, Treasuries slip.

From Investing.com: 2024-07-14 19:05:36

U.S. bond futures slipped and the dollar strengthened as a recent attack on presidential candidate Donald Trump raised speculation about his potential victory, causing political uncertainty in markets. Investors typically react to a Trump win by boosting Treasury yields on the belief his policies will increase inflation and debt.

Online betting site PredictIT puts Republicans at 66 cents and Democrats at 38 cents, indicating Republicans are twice as likely to win the election. The dollar slightly rose against the Japanese yen and the euro weakened, while the yen edged a bit higher.

Futures for 10-year Treasuries slipped as markets closed in Japan but were little changed in the U.S. Market activity this week includes Chinese GDP data, U.S. retail sales, industrial production, housing starts, and weekly jobless claims. Fed Chair Jerome Powell will share his views on inflation, with a 94% chance the Fed will cut rates in September.

The European Central Bank is expected to keep rates steady, with a cut likely in September. Companies like Goldman Sachs, BlackRock, Bank of America, Netflix, and Taiwan Semiconductor Manufacturing are set to announce earnings this week. Gold stayed near $2,408 an ounce as oil prices inched up following signs of progress on an Israel-Hamas ceasefire.



Read more at Investing.com: Treasuries slip, dollar firm as markets grapple with US politics By Reuters