(Reuters) – Investors are hoping President-elect Donald Trump will name a Treasury secretary soon who will assuage their concerns about the Republican’s policy promises that have weighed on an already sagging U.S. government bond market.
The benchmark U.S. 10-year yield, which moves inversely to bond prices, is hovering near a five-month high as traders fret about the potential for a rebound in inflation and increase in the federal budget deficit from Trump’s economic plans such as tax cuts and import tariffs.
More recently, uncertainty over who will fill the Treasury role has added to investor concerns.
The latest leg of the Treasury selloff is due to worries over “fiscal concerns, increased spending and (the) Treasury secretary,” said George Catrambone, head of fixed income and trading at DWS.
According to a Wall Street Journal report on Thursday, former investment…
