Good morning. The race for secretary of the Treasury is hot. Prediction markets are still favouring Scott Bessent, but three dark horses have emerged: Apollo CEO Marc Rowan, former Fed member Kevin Warsh and Senator Bill Hagerty. Who do you like? Email us: robert.armstrong@ft.com and aiden.reiter@ft.com.

Unhedged will be off next week for some much needed post-election, pre-Trump administration vacation. We will be back in your inboxes on Monday, December 2 — well rested, well fed and full of insight.

Chrome

Back in August a federal judge ruled that Google — Alphabet’s internet search and advertising business — is a monopoly. Shares in Alphabet barely moved. Yesterday, the prosecution presented its list of proposed remedies. This time the market took notice. Alphabet shares fell 5 per cent. The Department of Justice wants Google to: