The US borrowing outlook has steadied after the midterms, but Treasury yields still face new tests. The long end remains the swing factor for risk assets, so don't chase equity rallies until yields cl

What happened: After Democrats swept the US midterm elections, analysts said divided government may restrain future Treasury borrowing and prevent fresh deficit blowouts. The Treasury Department released its quarterly refunding statement on Wednesday. Why it matters: Analysts said divided government will not necessarily bring down elevated bond yields, and market participants described the overall borrowing outlook as largely neutral. Coverage: 4 outlets in 24h

After Democrats swept the US midterm elections, analysts said divided government may restrain future Treasury borrowing and prevent fresh deficit blowouts. The Treasury Department released its quarterly refunding statement on Wednesday.

Analysts said divided government will not necessarily bring down elevated bond yields, and market participants described the overall borrowing outlook as largely neutral.