News Summary

• Prominent economist Mohamed El-Erian argues hyperscalers and national governments are issuing a flood of bonds to keep up their rapid spending velocity.
• Investors are increasingly nervous about the fallout of the US-led war against Iran.
• They're also wary about the rapid pace of AI development and whether the staggering spending levels will yield profits that match.
• The unsteadiness in the bond market will also serve to drive up everyday costs in the u.s., since mortgage rates usually trail the ten-year Treasury yield.