Bonds rally as Kevin Warsh pushes for Federal Reserve chair position

Bonds rallied on Monday and remained stable despite a slight pullback. While Scott Bessent's nomination for Treasury Secretary was a key topic, Kevin Warsh's push for the Federal Reserve chair position may have influenced market movements. Warsh, a former Fed Governor, has been vocal about his desire for the Fed chair role. He was considered for the Treasury position but suggested he might resign to take the Fed chair after Jerome Powell. Warsh's connections, including his marriage to an Estée Lauder heir and ties to Trump supporters, may strengthen his candidacy. If appointed, he is expected to maintain higher interest rates, impacting inflation and long-term rates.