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Stocks higher as Washington chaos fails to dislodge recovery bets


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NEW YORK (Reuters) - Bond prices dropped and stocks hit record highs on Thursday as investors bet Democratic control of the U.S. Congress would enable President-elect Joe Biden to borrow and spend heavily, while higher yields helped a bruised dollar recover from near three-year lows.
The bullish sentiment remained throughout the day even as the top two Democrats in Congress called for President Donald Trump to be removed from office, one day after his supporters stormed and vandalized the U.S. Capitol in a rampage that left four people dead.
U.S. Treasuries prices extended their steepest sell-off in months, with the benchmark yield at its highest in 10 months. Victories in two Georgia races handed the Democratic Party narrow control of the U.S. Senate, bolstering Biden’s power to pass his agenda with his party controlling both chambers. ....

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Stocks climb, bonds fall after Democrats win Senate

Bond prices dropped and stocks hit record highs on Thursday as investors bet Democratic control of the U.S. Congress would enable President-elect Joe Biden to borrow and spend heavily, while higher yields helped a bruised dollar recover from near three-year lows. ....

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