Quotes
You can't ask for a better reception from the market,
said Quincy Krosby, chief global strategist at LPL Financial
I would recommend that tariffs be layered in gradually,
Bessent told CNBC earlier this month before his nominationIt's almost as if Trump wants to remind markets who is in control, after nominating Scott Bessent as Treasury Sec - a man markets expected to cool Trump's potency,
said Matt Simpson, senior market analyst at City Index
What matters is that this Treasury secretary designate is a serious person, not unlike Steven Mnuchin before him, ... And those who believed Trump couldn't get a dollop of rigor in the cabinet — well, they've been proven wrong."
he saidWhat we're in is a Trump rally. Markets like a Republican because they figure taxes aren't going up and hopefully will go down,
said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New YorkBessent's influence is expected to bring nuanced economic strategies to the forefront, potentially easing concerns over abrupt policy shifts,
Stephen Innex of SPI Asset Management said in a commentary
This pick should please markets given Bessent's in-depth understanding of financial markets and the economy – in particular the bond market the Trump administration will need to keep on [its] side if it is to advance its agenda successfully,
Sarah Bianchi, chief strategist of international political affairs and public policy and other colleagues at Evercore ISI wrote in a noteThe one thing he doesn't want is a replay of what we've just got under Biden-Harris,
Bessent saidPresident Trump has some very good ideas, but I guarantee you, the last thing he wants is to cause inflation,
he addedNews that Scott Bessent is the top choice for incoming US Treasury Minister has raised the possibility that some 'Trump trades' may be watered down,
analysts at Rabobank said in a research noteTrump's pick for Treasury Secretary has swelled investor sentiment further with stocks on Wall Street looking set for another flurry of gains,
Susannah Streeter, head of money and markets at Hargreaves Lansdown, said in a research noteBessent, a successful macro hedge fund manager, is associated with a preference to reduce the US budget deficit to 3% of GDP, which clearly suggests less appetite for deficit spending,
they addedHedge fund manager Scott Bessent's long career of navigating the twists and turns of markets, has boosted confidence about incoming pro-business policies and lifted hopes that any tariffs would be highly targeted and potentially less inflationary in nature,
she addedWe suspect his view that tariffs should be 'layered' and that initial levels being discussed are 'maximalist' positions, should also provide an opening boost to Asia FX and [the Chinese yuan],
he addedThe beauty of this nomination is that Bessent is a fiscal conservative. Now this sets the stage for more fiscal discipline, which the market is really going to welcome. His background is in FX trading and in fixed income, including global fixed income, which is another plus,
said Joe McCann, CEO at Asymmetric in Miami
The market view (is) that Bessent is a ‘safe hands’ candidate.”
Stephen Spratt, strategist at Societe Generale, said
On the back of strong expected revenue growth in 2025, we maintain our positive view on the AI compute industry and NVIDIA in particular,
UBS analyst Sundeep Gantori wrote in a Thursday noteInvestors are rotating out of the previous high flyers of large-cap communication services and technology and into other cyclical sectors of consumer discretionary, industrials, and financials, as well as mid- and small-cap stocks,
said Sam Stovall, chief investment strategist at CFRA ResearchThis might be one of the last big key pieces of data" for the U.S. Federal Reserve before its December meeting
said a fund managerBessent has publicly lauded dollar strength following news of Trump's election win, so I admit to being somewhat perplexed by the suggestion that the weakening in the dollar is because of his appointment,
said Ray Attrill, head of FX research at NAB