By Wayne Cole
SYDNEY (Reuters) -U.S. Treasuries slipped and the dollar firmed on Monday as investors wagered the attack on U.S. presidential candidate Donald Trump made his victory more likely, while injecting a whole new level of political uncertainty into markets.
A holiday in Japan made for thin trading in Asia and action was confined to a modest rise in the dollar, gains for bitcoin and selling U.S. bonds. Benchmark 10-year Treasury yields were up almost five basis points in early London trade.
Investors have tended to react to the prospect of a Trump win by pushing Treasury yields higher, in part on the assumption his economic policies would add to inflation and debt.
Proposals to levy tariffs on imports would push prices higher while eating into consumer spending power. Meanwhile, restrictions on immigration could tighten the labour market and put upward pressure on wages.
“The…
