NEW YORK (TheStreet) --Following of Tuesday's presidential election, which saw Donald Trump (R) win the oval office, both the 10-Year and 30-Year Treasury Notes were hitting multi-month highs on Wednesday.

The 10-Year is at its highest level since March, while the 30-Year is eclipsing highs last realized in January.

"I think it's a combination of the Fed saying, a couple of different times, that they are willing to let the economy run hot to make sure we have a little bit more inflation," TJM Institutional Services managing director Jim Iuorio said.

Couple that with a Trump presidency seen as "more business-friendly" he added.

"The fact that he's talked about fiscal stimulus and about cutting taxes, the only solution to that would be issuing more debt, at least in the short-term," Iuorio continued.

Those short-term impacts could additionally weigh on the long-term treasuries as well, he noted.

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