Markets Rally as Bessent Offers a Softer Approach to Trump's Policies

The appointment of Scott Bessent as Treasury Secretary is being welcomed by investors who anticipate he will moderate some of Trump’s more extreme economic measures. This sentiment has fueled gains in US Treasuries and stocks, while the dollar has weakened. Bessent is expected to favor a cautious implementation of trade restrictions and focus on fiscal responsibility, which has provided a sense of relief to the financial markets.