The S&P 500, NASDAQ, the Dow and the U.S. dollar all hit all-time highs last week. Some credit this to the election of Donald Trump.
John Payne of Daniels Trading told U.S. Farm Report host Tyne Morgan the bond markets saw “major movement” on November 9, and believes it could be the case.
“Essentially, it’s like new game,” said Payne. “The game started from that point. We’ve seen some follow through.”
In December 2015, the Fed raised interest rates, the first time in close to a decade. It’s been speculated interest rates will raise again this December. Dan Hueber of the Hueber Report believes this hike is pretty much expected.
“[The bond market] very much has been setting the stage for the Fed to kick up a rate here in December,” said Hueber. “I don’t really think anybody thought they were going to [raise rates] pre-election. Now that we’re beyond the election, there could be no accusations that it was trying to favor one candidate over another.”
Listen to Payne and Hueber on U.S. Farm Report discuss if there’s any upside to the dollar, Monday’s soybean rally and South American crops above.