Yields on the United States Treasury bonds decreased on Monday after Scott Bessent, an experienced hedge fund manager, was nominated to lead the Treasury department.
President-elect Donald Trump's selection for Treasury secretary, which is seen as a safe and stabilizing choice, appeared to bolster demand for government bonds, pushing yields lower. Bessent is expected to pursue moderate fiscal policies aimed at stimulating economic growth in the United States while potentially adopting a more measured stance on tariffs.
The yield on the two-year note fell 6.4 basis points to 4.2305% at 9:35 am ET. At the same time, the return on the 10-year Treasury note plunged 11.0 basis points to 4.302%, while the yield on the 30-year bond fell 10.5 basis points to 4.490% a minute later.
