Hedge fund chief Scott Bessent’s Friday nomination to become the US Treasury Secretary is offering bond investors a glimpse into the incoming administration’s sweeping economic agenda after an extended search that included multiple prominent contenders.
The $28 trillion market for US Treasuries was already closed for the week when Bessent, who runs macro hedge fund Key Square Group, was officially nominated by President-elect Donald Trump. Until trading resumes early in Asia’s Monday session, investors and strategists are awaiting more details on Bessent’s views on fiscal policy and his next steps.