CHIP ROUT FINALLY DOES WHAT SCOTT BESSENT BUYBACKS COULDNT : PULLS TREASURY YIELDS BACK FROM 24 - YEAR HIGH

What happened: A rout in semiconductor stocks sent investors into government bonds on Thursday, pulling Treasury yields back from multi-decade highs. The Kobeissi Letter said the Treasury had spent months trying to push yields lower and failed. Key numbers: 10-year Treasury yield 5.085%, down from a 24-year high of Why it matters: The Kobeissi Letter said a drop in equities was the only way to lower yields, and that surging oil prices have rewritten the interest rate outlook. Inflation, AI funding worries, Fed rate hike expectations and competition from China have weighed on the sector. Coverage: 3 outlets in 24h

Treasury yields pulled back from 24-year high after chip rout, succeeding where Bessent buybacks failed.

Treasury yields pulled back from 24-year high after chip rout, succeeding where Bessent buybacks failed. — impact context not separately stored; see What changed.