US Bond Market Selloff Drives Treasury Yields Toward Key Threshold

Bond market bears are pushing US Treasury yields closer to a key milestone as inflation fears intensify ahead of crucial data releases. The closely-watched 5% level is within reach, with investors awaiting the next week's Federal Reserve interest-rate hike decision. The yield on benchmark Treasury bonds has been rising steadily in recent weeks, driven by concerns about inflation and potential rate hikes.

OpenAI, the maker of ChatGPT, is also making headlines as its CEO Sam Altman considers slowing down development of cutting-edge artificial intelligence. This move comes amidst growing anxiety among AI companies, with some hoping to temper expectations and avoid regulatory scrutiny.