The shiny new thing always attracts. In sport, music, film and more, the new attracts until it doesn’t. Of course, the genuinely new is extremely rare. Usually, it’s just the old in flimsy new garb. Despite much alleged innovation, this is especially true in finance. Scott Bessent seems new. US Treasury Secretaries are usually careful to fly below the radar. Suitably qualified and technically proficient, they are normally quiet custodians of the most important currency and balance sheet in the world. But the current incumbent is different. Scary Scott Bessent. Clever Scott Bessent. This former trader is relishing his increasingly…

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