The Global Bond Rout Reaches Worrying New Levels

ImageAndrew here.What would the famed economist John Maynard Keynes think about artificial intelligence? Markus Brunnermeier, a Princeton professor, fed thousands of pages of the economist’s body of work into an A.I.

model and built a bot to ask it questions about the modern day.“I fear you may end up with skilled and overworked professionals with money but no time, and the rest of society with time but no money,” the A.I.version of Keynes warned.

Check out the full video and transcript here.ImageNo relief in sight The global bond rout is deepening on Thursday, with the 10-year Treasury note hitting another worrisome milestone.The sell-off is gaining pace despite inflation data released on Wednesday that could take some pressure off the Fed.But concerns about the central bank’s independence are again in focus after President Trump renewed his attacks on Jay Powell, the former central bank chair who still sits on its board of governors.A new report by an independent inspector general appears to exonerate Powell and his colleagues for cost overruns at the Fed’s headquarters.

But Trump doesn’t seem to see it that way.(More on that below.)We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.

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