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Treasuries Having Worst Month Since 2009 on Trump Ripple Effect

Treasuries are having their worst month since 2009 after investors pulled money from the U.S. bond market on speculation Donald Trump’s victory in the presidential election will pave the way for increased fiscal stimulus.

A Bloomberg Barclays index that tracks the Treasuries market has lost 2.4 percent this month through Tuesday. Meanwhile, benchmark 10-year yields have soared the most in back-to-back months since the 2013 taper tantrum as investors shifted into assets such as stocks, which they expect to benefit should Trump succeed in pushing through his proposals.

BOE Highlights Brexit Stability Threat as Global Risks Increase

The Bank of England said risks to the U.K. financial stability remain elevated and warned that a disorderly Brexit would have damaging implications for the banking system and the economy.

In a twice-yearly assessment, the central bank said officials are assessing the potential fallout from the U.K.’s exit from the European Union, with talks due to start next year. With so much of the bloc’s financial activity centered in London, anything that forces institutions to change operations or services is a potential hazard to both the U.K. and the EU.

Oil rises two percent as Iraq delegate says will be OPEC deal on Wednesday

Oil prices rose as much as 2 percent on Wednesday after an Iraqi delegate said that some form of deal would be reached between OPEC members who are meeting in Vienna to agree terms of a production cut to rein in oversupply.

International Brent crude LCOc1 was trading at $47.18 per barrel at 0707 GMT, up 80 cents, or 1.72 percent, from its last close. It rose over $1, or 2 percent, slightly earlier.

U.S. West Texas Intermediate (WTI) crude was up 71 cents, or 1.57 percent, at $45.94 a barrel.

An Iraqi delegate said on Wednesday that some form of agreement would be reached, and Iran's oil minister also said he was optimistic.