Good evening, this is Markets Desk with your closing brief.
The bond market is front and center tonight as Federal Reserve Chair Kevin Warsh signaled at Jackson Hole that rates may need to move higher, putting the central bank on a direct collision course with President Trump ahead of the midterms. The thirty-year Treasury yield has already hit a nineteen-year high, and any further tightening language from the Fed could push long-duration paper deeper into uncomfortable territory for both portfolios and policy.
Staying in the semiconductor space, investors are weighing Taiwan Semiconductor Manufacturing against ASML as competing bets on the AI infrastructure buildout. TSMC is posting stronger growth numbers, but ASML controls the chokepoint on extreme ultraviolet lithography equipment, meaning neither story is simple. The capital expenditure cycle driving both names remains intact, but valuation discipline matters here.
And speaking of the AI power demand story, Clearway Energy is quietly emerging as a key player, with its parent company signing fresh capacity deals with Google that are expected to be dropped down to the affiliate. The market has largely overlooked Clearway, but the contracted revenue pipeline feeding data center demand gives it a more durable earnings floor than most utilities its size.
That's the tape. Markets Desk, signing off the floor.
