MSCI's global equities gauge rose and U.S. government bonds rallied while the dollar fell on Monday as investors welcomed the incoming U.S. president's selection of fund manager Scott Bessent as the next U.S. Treasury secretary. Wall Street indexes closed higher with the S&P 500 and the Dow touching intraday records as investors approved of Donald Trump's choice. U.S. Treasury yields fell sharply as bond investors bet on a more moderate than feared U.S. fiscal trajectory.
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