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Markets reacted to projected Democratic control of Congress, with the dollar index falling as much as 0.61% and the 10-year Treasury yield easing to about 4.9%. The Fed under Kevin Warsh, which held rates at 3.75-4% with two votes for a hike, is still leaning toward tightening.
Gridlock reduces fiscal and bond-supply pressure, but the Fed's hawkish lean keeps financing costs high. A softer dollar could support dollar-priced commodity demand in the near term.
wcrcleaders.comNupur LakhwaniNov 4, 2026After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
