Rising Treasury yields and strong economic growth put stocks and the AI rally to the test as investors weigh the Fed’s next move. Plus, Meta’s Muse fuels new questions about AI assistants, consumer tech and disruption across the internet economy. Later, U.S. China tensions, missile stockpiles, defense spending, energy and global trade take center stage as geopolitical risks remain in focus.<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Markets, AI and rising yields test the rally 9/24/26

Morning Call

[SPEAKER_13] The bond sell-off continues. I'm Morgan Brennan, and this is your Morning Call. Good Thursday morning. I am Morgan Brennan. Welcome to Morning Call. We begin this morning with breaking news. The New York Federal Reserve President John Williams is speaking just a

[SPEAKER_13] short while ago, telling the London Macro Policy Forum it is reasonable to see another rate hike by end of this year, adding that the time for explicit direct forward guidance is over. Williams also saying downside risks to achieving maximum employment have receded and that we are seeing remarkable resilience in the U.S. economy. Williams is seen as a bit more dovish in terms of that committee composition, that Fed committee composition. So more Fed speak in a

[SPEAKER_13] week that's already seen some hawkish Fed speak here. On the back of those comments, we've got a sharp reaction in U.S. equity futures, which are lower again this morning. You can see right there on your screen after a sell-off yesterday, the S&P is poised to open lower by 45 points right now. The Dow about 245 points. The Nasdaq 319 points. We're actually now lower on the week for the Dow, and we've given back some of the gains for other averages. Treasuries, because of course this is where so much of the action is taking place

[SPEAKER_13] right now, given the bond sell-off that we've seen and we've been tracking. That's really picked up speed here in the past 24 hours. We're watching the Fed-sensitive two-year Treasury. 4.89 percent right now. In general, looking across the Treasury market, yields across the curve are trading at multi-decade highs. That is the case for the 10-year Treasury as well. 5.13 percent right now. This is the highest level since 2007.

Markets, AI and rising yields test the rally 9/24/26

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Markets, AI and rising yields test the rally 9/24/26

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.