Global Daily: Bessent into Orthodoxy?

Markets extended recent gains yesterday in apparent reaction to Donald Trump’s decision to nominate hedge fund manager Scott Bessent as Treasury Secretary. The S&P500 closed 0.30% higher at 5987, the DOW gained almost 1% to close at 44,736 and the NASDAQ was up 0.27% to 19,055. The EuroStoxx 50 rose 0.23%, the FTSE100 was up 0.36% and the ASX200 gained 0.28% to close at a fresh all-time high of 8,417.