Treasury Yields Fall as Markets Reprice AI Capex Risk

US Treasury yields fell on Wednesday, 4 November as the midterm result removed one source of uncertainty and equities rose, while investors began weighing what a new Congress might do to data-centre expansion. The fiscal and tariff path moves first, the rates path second, and policy risk then re-enters the price. The link between the election outcome and AI capex is an investor expectation so far, not a stated legislative plan.