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cover of episode Bessent Ascent: Stocks Up, Yields Down on Nominee

Bessent Ascent: Stocks Up, Yields Down on Nominee

2024/11/25
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Schwab Market Update Audio

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The market rallied, particularly in sectors like home builders and retailers, following the nomination of Scott Bessent as Treasury secretary, which led to a sharp decline in Treasury yields.
  • Scott Bessent's nomination sparked a market rally.
  • Treasury yields fell sharply, boosting sectors like home builders and retailers.
  • The U.S. dollar weakened, potentially easing pressure on overseas economies.

Shownotes Transcript

Trump's nomination of Scott Bessent for Treasury secretary helped broaden the already widening rally, in part by sending Treasury yield sharply lower. Fed minutes arrive tomorrow.

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