US Treasury Yield Spikes to 5%, Apple Rolls Out Public Beta for Siri AI
The US Treasury yield for 10-year notes spiked to 5% overnight, marking its highest level since 2007. This sudden increase has caused concerns over fiscal sustainability and inflation, leading to a higher-for-longer rate backdrop that compresses growth stock multiples globally.
This development is likely to contract risk appetite further, putting pressure on Hong Kong and US tech stocks. The situation may get worse before it gets better, as investors become increasingly cautious about the potential impact of rising rates on their portfolios.
On a more positive note, Apple has rolled out its public beta for Siri AI, marking a significant milestone in the company's artificial intelligence efforts. This move is expected to shape market confidence and provide a much-needed boost to Apple's tech narrative.