David Zervos, the veteran Wall Street economist and longtime chief market strategist at Jefferies, has been hired by Treasury Secretary Scott Bessent as a counselor at the Treasury Department – a move announced on Monday as the 10-year Treasury yield ($TNX) surged to 5.2%, its highest level since 2007.
Zervos brings a rare combination of private-sector market expertise and public-sector experience, having worked twice at the Federal Reserve and holding a doctorate in economics, which positions him as a credible voice in a department struggling with both market confidence and internal stability.
