While it is too early to draw conclusions about the battle for the White House, as many key battleground states are still undecided, there are clear flows of money in everything from government bond markets to betting sites, suggesting that Mr. Trump is not far from victory. US 10-year government bond yields rose by nearly 20 basis points, while similar Australian yields rose by nearly 12 basis points. The dollar rose and equity markets generally strengthened. Craig Vardy, head of fixed income at BlackRock, said the interest rate market was "steepening", a move expected of Mr. Trump's victory.