Decoding AI in the Central Valley

AI stock selloff drives Treasury yields to biggest monthly drop since 2023

Investors moved into government bonds in October as fears over AI spending hit tech stocks. That pushed down the 10-year yield, the benchmark mortgage markets watch most closely.

Reuters reported Oct. 30 that U.S. Treasury yields were on track for their biggest monthly fall since late 2023. A sharp selloff in tech stocks over fears about AI spending pushed investors toward government bonds.