Treasuries edged higher, paring their weekly decline as traders turned their focus from Donald Trump’s US election victory to the latest economic data prints and Federal Reserve speakers. The yield on the 10-year note slipped for a second day, leaving it up about 12 basis points in the week. Investors will get more clues about the scope for Fed easing with US retail sales numbers due later Friday.
Open Flip
Pharmaceutical stocks decline as President-elect Donald Trump taps Robert F. Kennedy Jr., a vaccine skeptic, to run the Department of Health and Human Services, sparking concerns over the industry's future. Vaccine makers Sanofi and GSK plunge over 4%, while US-listed Moderna, Pfizer, and Novavax also fall.
Open Flip
Bitcoin fell to $88,000 from a peak of $93,000 leading to $120 million in liquidations. The market is now pricing in a 66% chance of a 25 basis point cut in the December FOMC meeting, down from Thursday’s 83%. XRP zoomed 17% in the past 24 hours to beat gains in bitcoin {{BTC}] and majors, as shifting U.S. regulatory climate supported growth in tokens previously hampered by SEC's actions.
Open Flip
