Key takeaways

  • The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) gained 1.65% to $766.82.
  • The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) rose 0.8% to $81.76.
  • Treasury expects $800 billion in privately held net borrowing from January through March.

Democrats just won big, and bond investors are already eyeing the next showdown. Treasury's borrowing room is shrinking faster than its plans suggest, and one corner of the market may carry far more risk than Wednesday's rally implies.

See the latest quote, chart and news for TLT.

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