How the AI Trade Hijacked the Treasury Market for a Month
A facts-only brief, written by a local AI model from this article in The Wall Street Journal, November 13, 2026. It may contain mistakes, and it is not the article: the full story is at wsj.com.
Nvidia shares rose in premarket trading on November 13, 2026, as investors sought to recover from a month that erased nearly 30% of the company’s market value. The newsletter notes that the 10-year Treasury yield moved decisively above 5% the previous day, while U.S. Treasurys steadied in the current session. Microsoft 365 services experienced a major global outage that extended into Friday, causing the software giant’s stock to fall approximately 2% in early trade. Additionally, Richemont shares dropped around 5% after the Cartier owner reported strong overall sales but missed expectations for its key jewelry business.
Background
- The newsletter argues that AI stock deflation drove investors into Treasurys in October, creating an unusual correlation between bond yields and AI-linked equities like CoreWeave.
- Citigroup’s economic-surprise index hit a three-year high during October, yet Treasury yields did not rise as they typically would in response to strong growth data.
- Donald Trump publicly called for Tim Cook to replace Jensen Huang, who resigned from Nvidia on Thursday morning.
- Bitcoin fell to its lowest level since mid-August, negatively impacting the stock of cryptocurrency holder Strategy.
Read the full article at wsj.com
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