Quest: The Scared Money

Juno: bond yields dropped to 5.1! Mochi: catch, they dropped because AI stocks tanked (Korea down 8%, chip stocks down 4.3% for a sixth day). Queen Honeycomb: scared money leaves stocks and buys bonds, so yields fall. The Rust Baron: my bonds are winning! Mochi: only because your stocks lost worse. Tock: 5.105%, a three-week low, the day after inflation ran 3.7%. Juno: bonds are safe when stocks are scary.

The ten-year Treasury yield fell to 5.105% on Thursday, its lowest in three weeks, the day after inflation came in hotter than expected, because the sell-off in AI stocks sent investors out of shares and into government bonds as a safe haven.

Starring

JunoMochiQueen HoneycombThe Rust BaronTock