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CNBC's "Fast Money"
Yields Head Higher… And AI’s Copyright Issues 10/21/24
Oct 21, 2024
Kate Rooney, a CNBC reporter covering AI's legal challenges, joins Gene Munster, Managing Partner at Deepwater Asset Management. They dive into rising interest rates and their implications for the market, particularly mortgage rates. The discussion shifts to AI’s copyright issues, spotlighting a lawsuit against Perplexity AI and its potential impact on the industry. Rooney and Munster also analyze how these developments affect investor sentiment and the broader AI landscape, making for a compelling exploration of economics and technology.
43:47
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Quick takeaways
- The surge in interest rates has raised borrowing costs significantly, impacting consumer spending and potentially leading to increased loan delinquencies.
- UPS has been downgraded to an 'underweight' rating due to weak delivery demand and competition, signaling challenges ahead for the company.
Deep dives
Interest Rate Dynamics and Market Impacts
Yields on 10-year Treasuries have surged past 4.2 percent recently, significantly impacting borrowing costs. This increase has pushed mortgage rates and auto loan rates to their highest levels since mid-2023, raising concerns about consumer spending and loan delinquencies. Analysts suggest that this rise reflects market sentiments regarding the Federal Reserve's potential pause in rate hikes during its upcoming meetings. Despite these pressures, the stock market remains resilient, suggesting a disconnect between interest rate dynamics and overall market performance.
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