Franklin Templeton said the US midterm elections triggered risk aversion, and the Democratic Party's electoral prospects constrained Trump's growth agenda.
Andrew Canoby, head of fixed income for Franklin Templeton Australia, said the US midterm elections triggered a shift in financial markets from stocks to bonds, indicating a risk-averse trend. Democratic control of Congress constrains President Trump's growth agenda in areas such as artificial intelligence and resources. The yield on Australian three-year government bonds fell 15 basis points from the beginning of the week. (Source: Jinshi)