r low after revisions, and a jump in announced layoffs – helped pull Treasury yields down, reinforcing the dash for safety.
Why should I care?
For markets: AI hype now comes with a receipt.
Mega-cap tech is facing a higher hurdle: companies can’t just build bigger data centers, they have to show a credible path to returns. When that confidence wobbles, heavily owned “winners” can re-price fast – and the selling can spill into adjacent risk assets like crypto and even precious metals.
The bigger picture: Growth data is steering the wheel again.
The mix of falling yields and a stronger dollar signals that investors are taking slowdown risks more seriously. Add in shifting expectations for central-bank cuts, and you’ve got a backdrop where macro data – especially jobs and inflation – can overshadow even the biggest corporate AI stories.
