Treasury yields rise as U.S. voters head to midterm polls

Treasury yields rose in early European trading Tuesday as U.S. voters cast midterm ballots. The two-year yield added 1 basis point to 4.593% and the 10-year yield rose 2.1 basis points to 4.914%. Oil prices rebounded slightly after Monday's sharp fall. Nuveen's Laura Cooper said the elections are likely to cause short-term noise rather than a sustained bond-market repricing, with the impact depending on possible fiscal-policy shifts. She said room for fiscal action looks limited by strained debt dynamics and high financing costs. Initial results arrive after the first polls close, and investors are watching whether Democrats win both the House and Senate. A Democratic sweep is seen as the most likely outcome but is not guaranteed. Cooper said a divided government could reassure investors by limiting further fiscal expansion and easing pressure on the long end of the curve, though gridloc