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.

Former hedge fund manager Scott Bessent is seen as a steady hand to lead the Treasury Secretary with his deep market expertise.

Markets looked favorably Monday morning on President-elect Donald Trump's presumptive nominee for Treasury secretary, as equity futures rose and Treasury yields fell. The move to put hedge fund magnate Scott Bessent in the position now held by Janet Yellen sent a message that Trump wants someone with strong market credentials as well as a similar philosophy for the role.