U.S. Treasury yields saw a significant decrease on Monday due to positive market sentiment following the nomination of Scott Bessent as Treasury Secretary by President-elect Donald Trump.
The 10-year Treasury yield fell over six basis points to 4.3492%, while the 2-year yield decreased by more than one basis point to 4.3561%. This decline in yields reflects increased demand for Treasuries as a safe-haven investment.
Bessent, a seasoned hedge fund executive and founder of Key Square Group, is expected to align with Trump's economic agenda, which includes gradual tariffs and pro-business policies. His nomination has alleviated concerns among investors about the future of the U.S. economy.
Bessent's appointment has led to lower bond yields, stronger equity indices, and a weaker dollar, signaling a shift in market sentiment.