Wednesday - October 7, 2026

Credit markets remain calm despite higher-for-longer rates, but the entire growth outlook hinges on AI delivering real productivity gains.

• Mixed close: Dow fell ~300 pts (~0.66%), S&P -0.25%, Nasdaq -0.33%, a day after closing at all-time highs on Nasdaq/S&P; oil slipped (WTI ~$88, Brent ~$100) and the 10-year held at 5.28%.
• Fed minutes hawkish: FOMC unanimously hiked 25 bp last meeting citing insufficient inflation progress, and minutes point to another hike before year-end (October or December).

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