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☆ Treasury yields fall as investors endorse Trump's Treasury secretary pick, await inflation data
▼ + stars: | 2024-11-25 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +2 min

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 .

☆ What Trump's pick for Treasury secretary could mean for global markets
▼ + stars: | 2024-11-25 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

Scott Bessent speaks at the National Conservative Conference in Washington D.C., Wednesday, July 10, 2024. Dominic Gwinn | Afp | Getty ImagesFinancial markets on Monday welcomed President-elect Donald Trump's pick for U.S. Treasury secretary, with currencies across the globe rallying on hopes that hedge fund manager Scott Bessent can take some of the sting out of Trump's more extreme economic views. "Trump's pick for Treasury Secretary has swelled investor sentiment further with stocks on Wall Street looking set for another flurry of gains," Susannah Streeter, head of money and markets at Hargreaves Lansdown, said in a research note. While many economists are skeptical about the effectiveness of tariffs, Bessent has defended them as "a useful tool for achieving the president's foreign policy objectives." Some strategists expect Trump's Treasury chief pick to be welcomed as good news for Asian currencies over the coming months.

Persons: Scott Bessent, Dominic Gwinn, Donald Trump's, paring, Trump, Bessent, Susannah Streeter, Hargreaves Lansdown, Scott Bessent's, George Soros, Trump's, Scott Spratt, Donald Trump, Brandon Bell Organizations: National Conservative Conference, Washington D.C, Afp, Getty Images, U.S, Treasury, Treasury Department, Connecticut, Key Square, Trump, Hargreaves, China News Service, US, Rabobank, Trump's Treasury, Societe Generale Corporate, Investment Banking, Asia FX, SpaceX, Via Reuters Locations: Washington, London, Xinfeng County, Ganzhou City, Jiangxi Province, China, U.S, Mexico, Treasuries, Brownsville , Texas

☆ Gold drops over 1% on profit-booking, Trump's Treasury Secretary pick
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: +2 min

Gold bar bullions ingot, selective focus, crisis safe haven for investment or reserve for country economics. Gold prices dropped over 1% on Monday, weighed down by profit-taking after a five-session rally, with further pressure from the announcement of fund manager Scott Bessent as the next U.S. Treasury Secretary. Spot gold fell 1.52% to $2,671.29 per ounce as of 0501 GMT, while U.S. gold futures shed 1.5% to $2,672.90. Gold's five-day rally pauses due to some profit-taking and Trump's pick of Scott Bessent as U.S. Treasury Secretary, hinting at tempered use of tariffs and easing U.S.-China trade uncertainty, said IG market strategist Yeap Jun Rong. Less dovish U.S. policy signals and potential inflation surprises could support a December rate hold, slowing rate cut prospects can be seen weighing on gold prices, Rong said.

Persons: Scott Bessent, Yeap Jun Rong, Donald Trump, Rong Organizations: Treasury, Federal, Traders Locations: China, U.S, Israel, Beirut, Tel Aviv

☆ What Trump's Treasury pick could mean for his economic policies
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat Trump's Treasury pick could mean for his economic policiesEd Mills, Raymond James Washington policy managing director, joins CNBC's 'Money Movers' to discuss Trump's pick of Scott Bessent for Treasury Secretary, how it could change the implementation of some of Trump's economic policies, and more.

Persons: Ed Mills, Raymond James Washington, Scott Bessent Organizations: Treasury

☆ Wall Street is happy with Trump's Treasury Sec. pick, says Axios' Mike Allen
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWall Street is happy with Trump's Treasury Sec. pick, says Axios' Mike AllenMike Allen, Axios co-founder, joins 'Squawk Box' to discuss President-elect Trump's pick for Treasury Secretary, Trump's initial nomination for Matt Gaetz, and much more.

Persons: Axios, Mike Allen Mike Allen, Trump's, Matt Gaetz Organizations: Treasury

☆ Trump's agenda will make Treasury Secretary's job tough, says Evercore's Roger Altman
▼ + stars: | 2024-11-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump's agenda will make Treasury Secretary's job tough, says Evercore's Roger AltmanRoger Altman, former deputy Treasury secretary and founder of Evercore, joins CNBC's 'Squawk Box' to discuss president-elect Trump's Treasury Secretary search, what to expect from the Trump economy, and more.

Persons: Evercore's Roger Altman Roger Altman, Trump Organizations: Treasury, Trump's

☆ Names being floated for Trump's Treasury pick would be 'warmly received' by the markets: Dan Clifton
▼ + stars: | 2024-11-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNames being floated for Trump's Treasury pick would be 'warmly received' by the markets: Dan CliftonDan Clifton, Strategas head of policy research, joins CNBC's 'Squawk Box' to discuss what he's looking for in president-elect Trump's pick for Treasury Secretary, how his selection could influence economic policy, and more.

Persons: Dan Clifton Dan Clifton, Strategas, Trump's Organizations: Treasury

☆ Possible Rowan selection for Treasury secretary would be boost for Apollo stock, private equity industry, says TD Cowen
▼ + stars: | 2024-11-21 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +1 min

The potential appointment of Apollo Global Management CEO Marc Rowan would boost the stock and the broader alternative asset management sector, according to TD Cowen. Trump's reelection platform included efforts to deregulate industries, which would facilitate large transactions such as the ones seen in the private equity sector. APO 1D mountain Apollo shares on Thursday Katz also thinks any "key man risk" at Apollo in the event Rowan is appointed to Trump's Cabinet is limited. Likely CEO successors are co-Presidents Jim Zelter and Scott Kleinman, according to Katz. Shares of Apollo have soared 77% year to date.

Persons: Marc Rowan, TD Cowen, Donald Trump's, Rowan, Kevin Warsh, Scott Bessent, Sen, Bill Hagerty, Warsh, Bill Katz, Katz, Jim Zelter, Scott Kleinman Organizations: Apollo Global Management, Federal, Key Square Group, Rowan, Trump, Mar, APO Locations: Wednesday's

☆ Trump's Treasury pick will be exceedingly important due to campaign promises, says Sen. Capito
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump's Treasury pick will be exceedingly important due to campaign promises, says Sen. CapitoSen. Shelley Moore Capito (R-W.Va.) joins 'Squawk Box' to discuss Capito's insights into Trump's pick for Treasury Secretary, if recess appointments could happen, and much more.

Persons: Sen, Capito Sen, Shelley Moore Capito Organizations: Treasury

☆ The battle over Trump's Treasury secretary is adding to the market's problems
▼ + stars: | 2024-11-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

President-elect Donald Trump's flurry of announcements regarding Cabinet nominees has left investors with one unexpected headache: a suddenly cloudy picture of who will take the all-important position of Treasury secretary. One somewhat new name to emerge into the Treasury conversation is former Fed governor Kevin Warsh. However, the Wall Street Journal reported Sunday that Warsh also has emerged as potential Treasury contender. Yields took another leg higher on Monday amid the Treasury uncertainty. However, Fundstrat research chief Tom Lee said that once the Treasury nominee issue is settled, that should restore some market confidence.

Persons: Donald Trump's, Trump, Scott Bessent, Sen, Bill Haggerty, Howard Lutnick, Elon Musk, Powell, Stocks, Kevin Warsh, Jerome Powell, Warsh, Evercore, Tom Lee, Lee Organizations: Key Square Group, Federal Reserve, Treasury, Trump Trade, Trump, Wall Street

☆ Trump's Treasury Secretary: The best commentary about who the president-elect should nominate
▼ + stars: | 2024-11-18 | by ( Chris Johnston | ) www.businessinsider.com time to read: +6 min

After announcing a swathe of names for his Cabinet, president-elect Donald Trump appears to be conducting auditions for his Treasury Secretary. AdvertisementHere's some of the best commentary we've seen about the race to be the next Treasury Secretary. Blowups somewhere are inevitable, and a Treasury secretary needs the experience to deal with the fallout in a way that reassures markets. There could now be a contest for Treasury Secretary where … the no1 job is reassuring the markets. In return he might be rewarded with the job of treasury secretary.

Persons: Donald Trump, Scott Bessent, Howard Lutnick, Marc Rowan, Kevin Warsh, Cantor Fitzgerald, Trump, Rowan, Apollo, Jay Powell, Warsh, Powell, hasn't, Kyle Bass, Mike Allen, You've, Ian Bremmer, Marco Rubio, Mike Waltz, Biden, Mr Lutnick, Mr Trump, … Mr Lutnick, …, Mr Lutnick's, John Thune, Jeff Stein Organizations: Key Square Capital Management, Apollo Global Management, Federal Reserve, New York Times, The Times, Times, Hayman Capital Management, X, Trump's, Treasury, CNBC, Trump, Fed, White, National Economic Council, Eurasia Group, Bloomberg, The, The Washington Post Locations: X U.S, Eurasia, Washington, United States, The Washington

☆ New candidates emerge for Trump's Treasury pick
▼ + stars: | 2024-11-18 | by ( Eamon Javers | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew candidates emerge for Trump's Treasury pickCNBC's Eamon Javers reports on Trump's options to lead the Treasury Department.

Persons: CNBC's Eamon Javers Organizations: Treasury, Treasury Department

☆ New candidates emerge for Trump's Treasury Secretary
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew candidates emerge for Trump's Treasury SecretaryCNBC's Eamon Javers joins 'Money Movers' to report on the latest on president-elect Trump's White House transition and new names being floated for treasury secretary.

Persons: CNBC's Eamon Javers, Trump's

☆ Meet the top 4 candidates Trump is considering for Secretary of the Treasury
▼ + stars: | 2024-11-18 | by ( Matthew Loh | ) www.businessinsider.com time to read: +8 min

AdvertisementLast week, Trump was said to be deciding between two leading candidates for Treasury Secretary. Here are the top picks Trump is reportedly now considering for Secretary of the Treasury. Kevin WarshKevin Warsh, center, is rising as one of the candidates for Trump's Treasury Secretary. AdvertisementMarc RowanMarc Rowan isn't said to be actively lobbying for Treasury Secretary, but his aides have reportedly been in touch with the Trump administration. Drew Angerer/Getty ImagesBessent, 62, was one of the original frontrunners for Trump's Treasury Secretary.

Persons: Trump, Kevin Warsh, Marc Rowan, Donald Trump, Robert F, Kennedy Jr, Florida Sen, Marco Rubio, Janet Yellen, he's, it's, Kevin Warsh Kevin Warsh, Tasos Katopodis, Warsh, Morgan Stanley, George W . Bush, Axios, Jerome Powell, Marc Rowan Marc Rowan isn't, PETER, Getty Images Rowan, Rowan, Rowan isn't, Howard Lutnick Howard Lutnick, ANGELA WEISS, Cantor Fitzgerald, Lutnick, Linda McMahon, He's, Vance, Elon Musk, Musk, Scott Bessent Scott Bessent, Drew Angerer, Bessent, George Soros, Soros, Breitbart, Kamala Harris, Joe Biden's, MAGA Organizations: Treasury, White, Department of Health, Human Services, State Department, Trump, Street, New York Times, Trump's, Federal Reserve Board, Getty Images, Apollo Global Management, Apollo, Times, Bloomberg, Madison, Garden, AFP Lutnick, WWE, Hamptons, Apple, World Trade, Key, Capital Management, Reuters Locations: Florida, America, Lago

☆ Elon Musk throws his weight behind Howard Lutnick over Scott Bessent for Treasury secretary
▼ + stars: | 2024-11-16 | by ( John L. Dorman | ) www.businessinsider.com time to read: +2 min

Musk wrote on X that Cantor Fitzgerald chief executive Howard Lutnick would "actually enact change." Lutnick and Key Square Group founder Scott Bessent are leading contenders for the role. Elon Musk on Saturday said that Cantor Fitzgerald CEO Howard Lutnick would "actually enact change" should he be tapped as President-elect Donald Trump's Treasury secretary. Advertisement"My view fwiw is that Bessent is a business-as-usual choice, whereas @howardlutnick will actually enact change," Musk wrote. My view fwiw is that Bessent is a business-as-usual choice, whereas @howardlutnick will actually enact change.

Persons: Elon Musk, Musk, Cantor Fitzgerald, Howard Lutnick, Scott Bessent, Donald Trump's, Trump, Bessent, Republican Sen, Lindsey Graham of, Semafor, Graham, igGLZOJ8wz — Elon Organizations: Elon, Key Square, Group, Republican, Street Journal Locations: Lindsey Graham of South Carolina, South Carolina

☆ How real estate's pain could be Wall Street's gain as Blackstone, Goldman, and others dive back in.
▼ + stars: | 2024-03-19 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +12 min

That's not to say predictions of a commercial real estate rebound are a sure bet. Here are four signs that support Gray's prediction that the commercial real estate market may be bottoming. (New York Community Bank had previously purchased $2.7 billion in Signature's loans and deposits, but not the real estate loans.) According to David Seifert, partner at private equity real estate firm Velocis, there are some sweet deals to be had in secondary sales of private-equity funds tied to real estate. The road aheadWhere Gray sees signs of bottoming, others think commercial real estate has much further to fall.

Persons: Warren Buffett, Buffett, Paul Getty, Getty, Steve Mnuchin —, Blackstone, Mnuchin, Donald Trump's, George Soros, John Paulson, It's, Jonathan Gray, Jim Garman, That's, Barry Sternlicht, Gray, Tracy Chen, Chen, BGO, secondaries There's, Ares, Brian King, King, David Seifert, Seifert, Velocis, Goldman Sachs, Dan McNamara, McNamara, Scott Rechler, wallop, Janet Yellen, Rechler, there's Organizations: Business, Goldman, Reuters, Starwood, Brandywine Global, Federal Reserve, . Bank, New York Community Bank, FDIC, Signature Bank, Community Bank, Fund Management, Community Preservation, New, Commercial Observer, Blackstone, Homes, Digital Realty, Polpo, RXR Locations: Blackstone, , New York, New York, BREIT, Real, Velocis

The House Ways and Means Committee voted Tuesday to make six years of former President Donald Trump’s tax returns public — potentially ending years of speculation about what they might reveal about his business dealings and personal wealth. Rep. Brendan Boyle, D-Pa., said the vote will make public the tax returns and a separate report about Trump's tax information. It is the power to embarrass, harass or destroy a private citizen through disclosure of their tax returns," Brady said. Trump was the first president to refuse to make his tax returns public since the 1970s. In order to fairly make that determination, we must obtain President Trump’s tax returns and review whether the IRS is carrying out its responsibilities," Neal said in a statement in April 2019.

☆ Meet the GOP's biggest Hollywood donors
▼ + stars: | 2020-08-26 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +13 min

America First Action, the most notable super PAC backing President Donald Trump, has directly criticized Hollywood. Donors from Hollywood-area ZIP codes also rank among the most generous donors to key Republican senators, including Lindsey Graham of South Carolina and Marco Rubio of Florida. 3 donor ZIP code in the nation, trailing only ZIP codes in Houston and Palm Beach, Florida, which is home to his Mar-a-Lago Club resort. Bill Pugliano/Getty ImagesTrump continues to profit from HollywoodIn messages to supporters this year, Trump has decried "liberal HOLLYWOOD donors" and "MEGA HOLLYWOOD DONORS," while his son Donald Trump Jr. has castigated the "Hollywood Elite." As president, Trump's pension earned him more than $84,000 in 2017, about $91,000 in 2018, and about $78,000 in 2019, his personal financial disclosures showed.

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