Federal Reserve report: 87% of survey respondents identified artificial intelligence as a significant risk to financial stability.

Goldman Sachs strategists, including Kamakshya Trivedi, say U.S. Treasuries are cheaply valued and yields remain attractive; they forecast the 10-year UST yield will fall to 4.6% by end-2027 as Treasuries' hedge appeal rises and inflation moderates, below prevailing market expectations. The team cautions recent yield gains are creating market stress, indicating the current high yield level may be difficult to sustain.

The Fed accepted $325 million from one counterparty in its fixed-rate reverse repo operation.