Bond Yields Hit Multi-Decade Highs, Confidence Sinks and AI Firms Sign Voluntary Pact: What's Going On Today

Markets

US stocks ended modestly lower on Tuesday, September 29, as government bond yields continued to rise. Reuters reported that the 30-year Treasury yield reached a 24-year high, while Bloomberg said the long bond yield continued its ascent amid concern over the US debt burden and energy costs.

Consumer confidence also weakened sharply. The Conference Board’s September measure fell to its lowest level since 2014, according to Bloomberg, as households grew more pessimistic about the economy and labor market.

Tech

President Donald Trump and leaders of major AI companies signed a voluntary agreement on Tuesday focused on AI safety controls and reviews. Reuters and CNBC reported that executives from leading technology firms took part in the White House meeting. The pact is voluntary, leaving questions about enforcement and oversight.

Sources

Reuters, Bloomberg and CNBC.