'Treasury’s Bessent hires Trump’s controversial former Fed board pick, Judy Shelton, as adviser' - CNBC

Chip Rout Finally Does What Scott Bessent’s Buybacks Couldn’t: Pulls Treasury Yields Back From 24-Year High

Treasury yields pulled back from multi-decade highs Thursday, with a chip rout sending investors into bonds and easing months of pressure.

S&P 500 Index Outlook: Strong Earnings Meet AI Rout, $110 Oil Prices

The S&P 500 Index is in a tight range as the ongoing earnings season fails to offset the AI rout and the soaring oil prices.

'State Department Warns Travelers To China They Risk "Wrongful Detention”' - Semafor

https://www.semafor.com/article/10/16/2026/state-department-warns-travelers-to-china-they-risk-wrongful-detention

The Hormuz Letter Posts On X "BREAKING: UKMTO says the majority of vessels struck by Iran are refusing to report to it, meaning the true number of attacks on vessels is at least double what has been recorded..." "That puts the floor at nearly 60 vessels struck by Iran since October 1, against the roughly 30 UKMTO has confirmed. The strength of the language points to a real figure in the 70 to 100 range. October was already the highest month of the war on the reported number alone."

https://x.com/HormuzLetter/status/2111173159642616236?s=20

Major indices are trading lower as rising Treasury yields and hotter-than-expected inflation data this week fuel a rotation out of tech and AI-related stocks. Credit risks tied to the AI infrastructure buildout are adding to the pressure, with the VanEck Semiconductor ETF (SMH) down 8% this week, on track for its biggest weekly decline since July.

AI Bubble Worries Hand Long-Term Treasuries Their Best Week Since March 2025

AI bubble worries lifted the iShares 20+ Year Treasury Bond ETF 2.55% this week, its best week since April 2025, despite hot inflation data.