According to CoinMeta, with the Democratic Party winning the midterms, U.S. Treasury yields fell across the board during Asian trading hours on Wednesday. Based on Tradeweb data, the yield on two-year U.S. Treasuries briefly dropped to 4.546%, the lowest level in two months, before rebounding slightly to 4.604%, a decrease of 0.8 basis points. The yield on 10-year U.S. Treasuries fell by 1.5 basis points to 4.934%. Elisabet Kopelman, an American economist at Nordea Bank in Sweden, stated in a report that the change in congressional power dynamics will lead to a slight expansion of fiscal policy, but it will also hinder Trump's request for a $1.5 trillion Pentagon funding plan. Considering that the U.S. budget deficit is already on an unsustainable track, this is not necessarily bad for the bond market, but it is not enough to bring about sustainable improvement. Currently, neither party, including the president, seems to be focusing on the budget deficit issue.