Welcome to Markets Desk, your midday read on what's moving markets and the broader economy.
Bond markets remain under pressure after Mohamed El-Erian told CNBC the global sell-off is likely not finished. The renowned economist warned that yields have further to climb, and took direct aim at the U.S. Treasury, saying its recent market intervention went a step too far — language that rattled fixed income desks across the Street.
Shifting to semiconductors, Broadcom reported a staggering two hundred twenty one percent surge in AI chip revenue last quarter, reaching sixteen point seven billion dollars. That kind of growth puts Broadcom squarely in the conversation alongside Nvidia as a primary infrastructure beneficiary of enterprise AI buildout, and analysts are now reassessing price targets with fresh urgency.
Meanwhile, Hawaii has become the latest state to move on AI regulation, enacting a law that places disclosure requirements directly on AI makers and mandates safety standards for consumer-facing chatbots. It signals a growing legislative momentum at the state level that could pressure Congress to act before a patchwork of fifty different frameworks becomes unworkable for the industry.
That's the tape. Markets Desk, signing off the floor.
