There was a big rally in bonds on Monday and they've held up well today despite a moderate retracement. Much of the talk on Monday was about Scott Bessent getting the nomination for Treasury Secretary but what might have driven a big part of the move was a detail in many of the stories reporting on Besent -- Kevin Warsh was a finalist but continued to push for Fed chair instead.Warsh was a former Fed Governor who quit in 2011, disagreed with QE2 and was generally hawkish. After Trump's disputes with with Fed Chair Powell, he reportedly said to Warsh that he should have pushed harder for the job.“I could have used you a little bit here,” Trump told Warsh in 2020. “Why weren’t you more forcefu
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