The US 10-year Treasury yield dropped to around 4.9% on Wednesday, approaching eight-week lows as early midterm election results heightened political uncertainty and boosted demand for safe-haven assets. Investors are weighing the possibility of Democrats securing control of both the House of Representatives and the Senate, which could lead to political gridlock in Washington and limit government spending. A Democratic sweep could also pave the way for stricter AI regulations and greater corporate oversight, potentially dampening the economic growth outlook. Meanwhile, market participants are monitoring whether President Trump will resume military strikes against Iran following the election amid diplomatic struggles. Attention is also focused on the closely watched US jobs report due later this week, which could provide further insight into labor market conditions and influence expectations for the Federal Reserve policy.