The New York stock market on the 6th hit a new high with the Dow Jones Industrial Average rising sharply as expectations spread that it would be easier for the Democratic Party to take the initiative in the US Senate to implement new economic measures.
The closing price of the Dow Jones Industrial Average on the New York stock market on the 6th was $ 38,829,40, which is $ 437,80 higher than the previous day.
Georgia's final vote reports that Democratic candidates have become dominant, and if the Democratic Party becomes a de facto majority in the US Senate, it will implement new economic measures to support the economy after the inauguration of the new administration. This is because the view that it will be easier has spread.
Market officials said, "If the Democratic Party takes the initiative in the Senate, there are concerns that tax increases and regulations will be tightened for companies, but the re-expansion of the new coronavirus infection has increased economic instability, and fiscal mobilization has been made. The positive side of being easier to do has become a material. "
On the other hand, in the bond market, the interest rate of 10-year US government bonds, which is an indicator of long-term interest rates, has risen since March last year, from the view that large-scale fiscal stimulus will lead to an increase in the issuance of government bonds and the supply and demand will deteriorate. It reached the 1% level for the first time in 10 months.