The dollar slid and Treasuries rose after Joe Biden ended his reelection campaign and endorsed Vice President Kamala Harris.
European stock futures pointed to gains at open. A Bloomberg gauge of the US currency’s strength shed 0.1%, while the 10-year Treasury yield dropped 2 basis points.
The Mexican peso climbed, gold gained, Bitcoin rose to the highest in over a month. The Euro Stoxx 50 contract rose 0.5%, along with more modest gains for US equities futures.
It marks a divergence from losses in Asian stocks that remained haunted by a weak tech sector. Chinese bonds were a highlight, gaining after the central bank cut a policy interest rate.
The yield on the 10-year sovereign note dropped 2 basis points. The country’s stocks fell, as investors continued to express disappointment at a lack of strong stimulus measures from a recent major Communist Party meeting.
Investors have mulled for weeks a greater prospect that Donald Trump will win the November election following Biden’s weak debate performance, only for bets on a Trump win to accelerate last week following an assassination attempt on the Republican candidate a week ago.
