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The Dollar Index fell 0.6% at the week's start, influenced by a 10 basis point drop in the US 10-year yield. Concerns over U.S. fiscal debt sustainability topped the Fed's financial stability report, alongside geopolitical tensions and political uncertainty. The bond market reacted positively to a recent appointment, though its long-term impact on the dollar and interest rates remains uncertain.
Scott Bessent, head of macro hedge fund Key Square Group, has been nominated by President-elect Donald Trump to be the US Treasury Secretary, signaling a potential shift in fiscal policy. As bond investors await further insights into Bessent's economic strategies, the $28 trillion US Treasuries market remains closed until trading resumes in Asia.
President-elect Donald Trump has nominated Scott Bessent, head of macro hedge fund Key Square Group, as the next US Treasury Secretary. Trump highlighted Bessent's strong support for the America First Agenda, aiming to strengthen the US economy as the nation approaches its 250th anniversary.
Key advisers to President-elect Donald Trump are endorsing Scott Bessent, head of macro hedge fund Key Square Group, for the position of Treasury Secretary. Bessent has gained Trump's respect through his campaign contributions, including fundraising and drafting economic policies. No official decision has been made regarding the appointment.
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dollar weakens as bond market reacts to fiscal concerns and political uncertainty
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10:37 25.11.2024
Bessent nominated as US Treasury Secretary signals fiscal policy shift
02:15 23.11.2024
Trump nominates Scott Bessent as Treasury Secretary to advance economic agenda
00:54 23.11.2024
key advisers support scott bessent for treasury secretary position
14:12 12.11.2024
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