Treasury yields moved lower on Wednesday as investors sought shelter from a sell-off in equity futures sparked by potential big victories

Treasury yields moved lower on Wednesday as investors sought shelter from a sell-off in equity futures sparked by potential big victories from Democrats in the U.S. midterm elections. The benchmark 10-year Treasury note yield was last seen 1 basis point lower at 4.9291%. The 30-year bond yield slid 1 basis point to 5.3125%, and the shorter-term 2-year note yield pulled back 1 basis point to 4.5996%. One basis point equals 0.01%, or 1/100th of 1%, and yields and prices move inversely to one another. Democrats are on course for a clean sweep, with the party winning at least the House and projected to win the Senate according to a CNBC Election Desk.