According to Bloomberg, the Australian stock market rose slightly, with the market starting off with a risk appetite. Bessent's deep understanding of the global financial system has made him popular among investors.
Bessent expressed support for the tariff plans of the presidential elect and is working to extend Trump’s tax cuts. Wall Street expects him to prioritize economic and market stability.
Australia's 10-year government bond yield followed the trend of U.S. Treasuries, dropping 7 basis points in early trading on Tuesday. West Texas Intermediate crude oil remained relatively unchanged after a 3.2% drop on Monday.
Despite a strong performance from the S&P 500 index this year, Cox warns against being overly optimistic about year-end performance, as December could become a test of economic reality.
