Investors seemed to signal their approval for Scott Bessent as a safe choice to implement the president-elect’s economic agenda.

Scott Bessent, the founder of the Connecticut-based hedge fund Key Square Group, had been making a full-court press for the post.

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.