Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
China Consumer Stocks Near Decade Lows as AI Shares Surge 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Fed Unveils Stablecoin Rules Under GENIUS Act 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Fed Unveils Stablecoin Rules Under GENIUS Act 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
ECB May Stop Rate Hikes After December, Capital Economics Says 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
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Scott Bessent and John Paulson Emerge as Treasury Secretary Candidates
Key Investors in the Running
Prominent investors Scott Bessent and John Paulson are strong contenders for the role of U.S. Treasury Secretary in Donald Trump’s potential second term, according to sources close to the former president. Bessent met with Trump on Friday at Mar-a-Lago, Florida, and received positive feedback, signaling his favorable standing. Although a final decision rests with Trump, Bessent and Paulson are seen as top choices.
Influence of Treasury Secretary on Policy
The U.S. Treasury Secretary plays a pivotal role in economic, regulatory, and international finance matters. Wall Street has been attentive to Trump’s selection, given his agenda to reshape global trade policies with tariffs and tax reform. Trump has previously expressed interest in Paulson for this role due to his alignment with Trump’s economic vision.
Candidates’ Background and Qualifications
Bessent, a hedge fund veteran and former Yale professor, has established a warm relationship with Trump, notably supporting his approach to tariffs. Paulson, a billionaire investor and Trump donor, is known for his advocacy of tax cuts and deregulation. Other speculated candidates include FOX Business personality Larry Kudlow and former U.S. trade representative Robert Lighthizer. However, JPMorgan CEO Jamie Dimon reportedly has no plans to join Trump’s administration.
Upcoming Appointments and Odds
Trump recently appointed Susie Wiles as White House Chief of Staff and is expected to announce additional appointments soon. According to Polymarket betting odds, Bessent is the favorite for Treasury Secretary, with Paulson close behind.
