Market News
Dollar dips with Treasury yields after Bessent pick - REUTERS
By Wayne Cole
- Treasuries rally as investors see Bessent as fiscal hawk
- Dollar eases from two-year high, due some consolidation
- Market sees more policy easing from ECB, less from Fed
SYDNEY, Nov 25 (Reuters) - The dollar surrendered a little of its recent gains on Monday as investors assumed the pick for U.S. Treasury secretary would reassure the bond market and pulled yields lower, shaving some of the dollar's rate advantage.
Yields on 10-year Treasuries slipped to 4.351%, from 4.412% late Friday, as President-elect Donald Trump's choice of fund manager Scott Bessent was welcomed by the bond market as an old Wall Street hand and a fiscal conservative.
