Tumbling bond prices have pushed yields on government debt higher, lifting borrowing costs for governments, businesses and consumers alike. The main driver has been the war-fueled surge in energy prices, which has lifted inflation and spurred talk of possible interest-rate increases by central banks. But concerns about the fiscal outlook in Japan and the U.K. have also added to the bond-market selloff in recent days.
The American Rebellion Against AI Is Gaining Steam
The only thing growing faster than the artificial-intelligence industry may be Americans' negative feelings about it-as former Google Chief Executive Eric Schmidt saw on Friday.
Delivering a commencement address at the University of Arizona, Schmidt told students the "technological transformation" wrought by artificial intelligence will be "larger, faster and more consequential than what came before." Like some other graduation speakers mentioning AI, Schmidt was met with a chorus of boos.
Xi Jinping Is Now the World Leader He Wanted to Be, but It Has Come at a Cost
The arrival Tuesday of Russian President Vladimir Putin in Beijing will mark a watershed moment for Chinese leader Xi Jinping, one that he has pursued since taking power in 2012-and bet his country's future to achieve.
Welcoming Moscow's ruler just days after President Trump's motorcade swept out of the Chinese capital represents, for Xi, a vindication of 14 years of relentless economic competition with the U.S. and his strategic embrace of the Kremlin through the Ukraine war. No Chinese leader before him has staged back-to-back state visits in the same month from a sitting American president and a sitting Russian president.
Russia's War Is Going Badly-on the Ground and in the Air
KYIV-Ukraine's military has wrestled Russia's much-larger army almost to a halt in recent months, having gained a tactical and technological edge.
This summer will test whether it can turn that slender advantage into a strategic turning point.
Trump Will Host Swearing-In Ceremony for New Fed Chair Warsh
President Trump will host a swearing-in ceremony for incoming Federal Reserve Chair Kevin Warsh at the White House on Friday, according to a White House official.
The White House ceremony underscores the close personal interest Trump has taken in the appointment. Trump's pick to run the Fed during his first term in 2018, outgoing Chair Jerome Powell, was sworn in at the Fed in a ceremony that Trump didn't attend.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
05-19-26 0514ET
