New Treasury secretary

The Note:

ABC News' Jessica Yellin reports a former Bush Administration official said this about the Paulson pick this morning: "Paulson is a fantastic pick. He has a keen, singular understanding of the financial markets. The markets will love the pick. His fingers are truly on the pulse of the global economy. He is held in the highest regard in the financial services industry and Wall Street. One of the world's most prominent investment bankers as Treasury Secretary is absolutely huge."

The markets show him the love.