Amid riots on Capitol Hill, the blue wave finally arrived. Georgia’s two run-off elections gave the Democratic Party 50 seats in the US Senate, and the majority, as Kamala Harris will hold the deciding vote as US vice president. As this opens the door to greater fiscal stimuli, investors have responded by piling into equities, causing US Treasury yields to climb. This provides opportunities at the long end of the maturity curve for bold SSA borrowers. Lewis McLellan, Sam Kerr and David Rothnie report.
