Treasurys soar as Trump moves ahead in key states

The US Treasury complex is soaring as the polls point to an extremely close race. Republican nominee Donald Trump has built a sizable lead in Florida, and has moved ahead in North Carolina and Ohio.

Recent buying has pushed yields down as much as 9 bps in the belly of the curve.

Here's a look at the scoreboard as of 9:05 p.m. ET:

• 2-year -5.6 bps at 79.8 bps
• 3-year -6.0 bps at 95.9 bps
• 5-year -7.7 bps at 1.249%
• 7-year --8.5 bps at 1.554%
• 10-year -7.5 bps at 1.780%
• 30-year -5.9 bps at 2.559%

In a note to clients sent out on Tuesday, Barclays' Interest Rate Research team of Rajiv Setia, Anshul Pradhan, and Amrut Nashikkar wrote, the knee-jerk reaction to a Trump win would likely be "a risk-off move, a flight-to-quality bid in front to intermediate Treasuries, and a steeper 5s30s Treasury curve."