Bonds & Stocks
US stock futures held steady and Treasury yields edged off the day’s highs as US economic readings kept alive expectations that the Federal Reserve can cut interest rates this year.
Economy
Concern over the debt impact of Donald Trump’s economic agenda has percolated through the market. Attention now shifts to the president elect’s nominee for Treasury secretary, Scott Bessent, who will appear before Congress on Jan. 16. Bessent’s challenge will be to reconcile his advocacy for Trump’s policies with his stated goal of halving the annual fiscal deficit to 3% of GDP.
World
Advisers to President-elect Donald Trump are crafting a wide-ranging sanctions strategy to facilitate a Russia-Ukraine diplomatic accord in the coming months while at the same time squeezing Iran and Venezuela, people familiar with the matter said.