Minneapolis Fed Pres. Kashkari says:

  • Fed is interested in AI because it contributes to productivity
  • Worthwhile to downgrade hype around AI

HMMMM. The last comment is an interesting broad comment. In what ways? From potential productivity gains? From risk standpoint? In the short term? In the long term?

US stocks have backtracked a little bit since the Michigan consumer sentiment report. The NASDAQ index is trading at new lows but is still up 16 points or 0.10%. The S&P index is up 0.23% and also trading at session lows.

In the US debt market, yields still remain higher:

  • 2- year yield 4.848%, +4.2 basis points
  • 10 year yield 4.488%, +4.0 basis points