US Treasuries
- Monday’s range for UST 10y: 4.13% – 4.16%, closing at 4.16%
- Monday’s range for UST 30y: 4.725% – 4.765%, closing at 4.755%
Intraday Commentary From Jim Bianco
JP Morgan has identified 41 “AI-Related” stocks. As this chart shows (in the bottom of today’s “What We’re Reading”), they are now 45% of the S&P 500.
A list of the stocks:
ChatGPT was released on November 29, 2022. Since this date, these 41 stocks have accounted for 70% of the increase in the S&P 500’s value (blue). The other 30% came from the remaining 359 stocks (orange).
The problem is that the index is no longer a diversified portfolio. Everyone has a bet on AI. And if you do not, because you seek to actively manage away from AI, the rest of the universe (orange above) is lagging.
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Upcoming US Treasury Supply
Upcoming Economic Releases & Fed Speak
- 10/07/2025 at 08:30am EST: Trade Balance
- 10/07/2025 at 08:30am EST: Exports MoM / Imports MoM
- 10/07/2025 at 10:00am EST: Fed’s Bostic Speaks at Fisk University in Nashville
- 10/07/2025 at 10:05am EST: Fed’s Bowman Delivers Welcoming Remarks
- 10/07/2025 at 10:30am EST: Fed’s Miran in Fireside Chat
- 10/07/2025 at 11:00am EST: NY Fed 1-Yr Inflation Expectations
- 10/07/2025 at 11:00am EST: Fed’s Kashkari Speaks at Star Tribune Summit
- 10/07/2025 at 03:00pm EST: Consumer Credit
- 10/07/2025 at 04:05pm EST: Fed’s Miran at Deutsche Bank Event
- 10/08/2025 at 07:00am EST: MBA Mortgage Applications
- 10/08/2025 at 09:20am EST: Fed’s Musalem Gives Welcoming Remarks
- 10/08/2025 at 09:30am EST: Fed’s Barr Keynote at Community Banking Research Conference
- 10/08/2025 at 02:00pm EST: FOMC Meeting Minutes
- 10/08/2025 at 03:15pm EST: Fed’s Kashkari Speaks at Center for Indian Country Development
- 10/08/2025 at 06:30pm EST: Fed’s Kashkari Hosts Fireside Chat with Senator Tina Smith
- 10/08/2025 at 07:45pm EST: Fed’s Barr Speaks on Community Development
- 10/09/2025 at 08:30am EST: Initial Jobless Claims / Initial Claims 4-Wk Moving Avg / Continuing Claims
- 10/09/2025 at 08:30am EST: Fed Chair Powell Gives Welcoming Remarks
- 10/09/2025 at 08:35am EST: Fed’s Bowman Delivers Welcoming Remarks
- 10/09/2025 at 08:45am EST: Fed’s Bowman Moderates Discussion
- 10/09/2025 at 10:00am EST: Wholesale Trade Sales MoM / Wholesale Inventories MoM
- 10/09/2025 at 12:45pm EST: Fed’s Barr Speaks on Economic Outlook
- 10/09/2025 at 01:00pm EST: Fed’s Kashkari and Barr Speak in Conversation
- 10/09/2025 at 03:45pm EST: Fed’s Bowman Delivers Speech on Community Banking
- 10/09/2025 at 07:40pm EST: Fed’s Daly at the Silicon Valley Directors Exchange
- 10/10/2025 at 09:45am EST: Fed’s Goolsbee Gives Opening Remarks
- 10/10/2025 at 10:00am EST: U. of Mich. Sentiment / Current Conditions / Expectations
- 10/10/2025 at 10:00am EST: U. of Mich. 1 Yr Inflation / 5 – 10 Yr Inflation
- 10/10/2025 at 01:00pm EST: Fed’s Musalem Speaking at Springfield Area Chamber of Commerce
- 10/10/2025 at 02:00pm EST: Federal Budget Balance
- 10/13/2025 at 12:10pm EST: Fed’s Paulson Speaks at NABE