Bond storm, Trump's diesel gambit and the Muse effect: The financial week in five charts
META•Government bond yields reached multi-decade highs, Meta's Muse logged 2.5 million downloads in 13 days, and Trump's support for restricting diesel exports unsettled energy markets. The week also featured a record-high US-China bond-yield spread and US gasoline prices averaging $4.43 a gallon.
1. Bonds sell off
Government bond yields soared to multi-decade highs on Wednesday and Thursday, following strong US business activity data, concerns about government debt and oil prices climbing back into triple-digit territory. The 30-year US Treasury yield reached its highest level in 22 years, while Japan's 10-year yield hit a 30-year high.
2. Muse boosts Meta
Meta's AI assistant Muse recorded about 2.5 million downloads in its first 13 days, approaching ChatGPT's 3.1 million over the same period. Meta shares rose more than 11% on Monday, while chip stocks rallied, the Nasdaq closed at a record and AMD became the latest chipmaker to exceed $1 trillion in market value. Investors also worried that Muse's shopping and travel-booking features could challenge financial and online travel companies.
3. Diesel and fuel costs
Donald Trump voiced support for restricting diesel exports, stirring global oil and diesel markets. The White House later said it preferred working with refiners in a voluntary, cooperative way to increase production. Separately, the national average gasoline price was about $4.43 a gallon, roughly 180% higher than the average cost to recharge a midsized EV; EVs had lower refueling costs than gasoline in every state.
