U.S. Treasury yields were lower on Monday as investors weighed President-elect Donald Trump's Treasury secretary pick and eyed a key inflation reading due later in the week.
Trump's choice of hedge fund executive Scott Bessent as Treasury secretary has calmed investors' nerves about the future of the U.S. economy.
Bessent, the founder of Key Square Group, is expected to back the incoming president's economic goals including gradual tariffs and pro-business policies.
However, as an old Wall Street hand and a fiscal conservative, investors believe Bessent will prioritize stability in the U.S. economy and markets.
Also in focus this week are some key data points due ahead of a shortened trading week.
Persons:
Donald Trump's, Scott Bessent, Kit Juckes, Trump, Bessent, Dow Jones
Organizations:
Treasury, U.S, Key Square, Societe Generale, CNBC, Federal, U.S . Federal
Locations:
U.S, U.S .