Zervos Joins Bessent at Treasury Amidst Challenging Bond Market

Scott Bessent's Treasury Department has announced that David Zervos will be joining the team as an economist. This is not Zervos' first stint with the federal government, having previously served at the Federal Reserve Board in the 1990s and returning during the global financial crisis as an advisor.

Zervos brings over a decade of experience from his time at Jefferies, where he worked as an economist. His expertise will likely be valuable given the current challenges facing the bond market.

The bond market has seen yields rise to their highest level in roughly 20 years, causing mortgage rates to increase and investor anxiety to spike.