Macro Mondays | REPLAY | Scott Bessent’s Impact and Market Shifts | 25|11|24

This week brought a flurry of critical developments, with Scott Bessent named as Treasury Secretary, signaling potential shifts in U.S. fiscal policy. Known for his bond market expertise, Bessent’s appointment caused gold prices to dip and led to fresh buying of bonds with 10-year yields falling 7bp on Monday's open. Meanwhile, Bitcoin hit an all-time high of $99,500, reflecting growing crypto optimism under the new administration. In economic data, the U.S. saw mixed PMI numbers, with...