The pick of Scott Bessent as Treasury secretary has changed the market's mood, says Kit Juckes, chief currency strategist at Societe Generale. Stock futures are up, and both bond yields and the dollar are down.

Shares are mostly higher in Europe and Asia, tracking last week's gains on Wall Street. Analysts said investors were viewing President-elect Donald Trump's choice of billionaire investor Scott Bessent as his nominee for Treasury secretary as a relatively market-friendly choice.

Scott Bessent, a billionaire hedge fund manager who has helped fundraise for Donald Trump, is the president-elect's choice to lead the Treasury Department.

Trump nominated Scott Bessent to serve as Treasury Secretary over the weekend, a billionaire hedge fund manager who is both respected on Wall Street and seen as a potential offset

Donald Trump has picked Scott Bessent to serve as Treasury secretary. President-elect Donald Trump’s choice of Scott Bessent for Treasury secretary could lift some of the gloom that has pervaded the sagging U.

The selection of Scott Bessent as the next Treasury Secretary has fueled a rally in currencies around the world against the dollar, as traders trim bets that the return of Donald Trump will send tremors throughout global markets.

Bessent, founder and CEO of hedge fund Key Square Group, served as an economic adviser to the Trump campaign, often appearing on financial talk shows to argue in favor of the president-elect's economic policies.