According to Jin10, Andrew Canobi, Franklin Templeton Australia's head of fixed income, said the initial financial-market reaction to the U.S. midterm elections could be summarized as a slight shift from stocks to bonds, showing some safe-haven demand. He added that if Democrats control Congress, markets may view it as a constraint on U.S. President Donald Trump's growth agenda, particularly in artificial intelligence and resources. The Australian three-year government bond yield has fallen 15 basis points since the start of the week, as traders believe the Reserve Bank of Australia may be nearing the end of its rate hikes.