“The long end of the Treasury market was short heading into last night. And the price action very indicative as the lack of a Blue wave became apparent,” Gregory Faranello, head of U.S. rates trading at AmeriVet Securities.

U.S. Treasury yields fell Wednesday as the incoming results of the presidential election failed to show a clear winner between incumbent President Donald Trump and former Vice President Joe Biden.

The yield on the benchmark 10-year Treasury note slipped 9 basis points to 0.766%, its lowest level since Oct. 18. The yield on the 30-year Treasury bond fell 10 basis points to 1.560%. Yields move inversely to prices.

The 10-year government bond yield fell from a five-month high of 0.945%, with Trump leading in the crucial state of Florida, tightening the election race. The yield on the 30-year Treasury also retreated from a high of 1.757% earlier in the trading session.

Trump is also projected to win Ohio, while Democrat candidate Biden is leading in Arizona. However, results in the key swing states of Michigan, Wisconsin and Pennsylvania could take days to determine.

“The long end of the Treasury market was short heading into last night. And the price action very indicative as the lack of a Blue wave became apparent,” Gregory Faranello, head of U.S. rates trading at AmeriVet Securities, said in a note on Wednesday.

The president falsely claimed victory in an address early on Wednesday, despite the fact that millions of votes were still being counted.

“We’ll be going to the U.S. Supreme Court, we want all voting to stop,” Trump added. “We don’t want them to find any ballots at 4 o’clock in the morning and add them to the list.”

On the data front, private companies added 365,000 jobs in October, according to ADP, well below what economists expected and the smallest addition since July. Economists surveyed by Dow Jones had expected 600,000 additions.

The more widely watched October jobs report from the Labor Department is slated to be released on Friday, and economists expect it show growth of 530,000 non-farm jobs.

Auctions will be held on Wednesday for $25 billion worth of 105-day bills and $30 billion of 154-day bills.