Treasury Yields Drop As Markets React To Trump’s Pick Of Scott Bessent For Treasury Secretary

U.S. Treasury yields dropped Monday as markets reacted to President-elect Donald Trump's selection of Scott Bessent as Treasury secretary and anticipated key inflation data later this week. Bessent is the founder of Key Square Group and is expected to support Trump's economic goals with gradual tariffs and pro-business policies while prioritizing market stability. His nomination eased investor concerns about inflation and fiscal policy, contributing to lower bond yields and improved market sentiment. This week's Key economic data includes the Federal Reserve's policy meeting minutes, home price data, and the October PCE price index, the Fed's preferred inflation gauge.