
After the Democratic sweep of the US midterms, Korean stocks and the KOSDAQ plunged, the won weakened to 1,342.1, and Korean treasury yields fell. US 10-year yields dropped from 4.95% to around 4.83%, and WTI fell 8.3% to $88.12 on hopes of an early end to the US-Iran war.
Lower oil prices ease inflation pressure and reduce the chance of further US rate hikes, which supports the dollar's weakness. Lower energy costs also reduce feed production and freight costs at the margin.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
After 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.
Not enough comparable past events yet for a historical read.
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.