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Longer-duration Treasury prices have plunged in recent weeks, driving benchmark 10-year yields toward 5%. These charts show how the meltdown compares to previous market crashes, including the 2008 financial crisis. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementUS bond prices have plummeted in recent weeks, turning what had already been a bad stretch into one of the market's worst-ever routs.
Persons: , iShares, Lehman Brothers Organizations: Service, Federal Reserve, Bloomberg –, Treasury ETF
Study finds that ChatGPT provided false information when asked to design cancer treatment plans. The chatbot mixed correct and incorrect information together, making it harder to decipher. Researchers at Brigham and Women's Hospital – a teaching hospital of Harvard Medical School in Boston, Massachusetts – found that cancer treatment plans generated by OpenAI's revolutionary chatbot were full of errors. AdvertisementAdvertisementDespite ChatGPT's success, generative AI models are still prone to "hallucinations," where they confidently present information that is misleading or wildly incorrect. The company's terms of usage warn that their models are not designed to provide medical information, and should not be used to "provide diagnostic or treatment services for serious medical conditions."
Persons: ChatGPT, Boston , Massachusetts –, Bloomberg –, Danielle Bitterman, didn't, Goldman Sachs, Google's, Bard, James Webb, OpenAI Organizations: Brigham, Women's, Harvard Medical School, JAMA Oncology, Bloomberg, Comprehensive Cancer Network, Harvard Locations: Boston , Massachusetts
A plot of sand in Dubai half the size of a football field sold for $34 million, per Bloomberg. The 24,500 sq ft plot — about half the size of a football field — is on Jumeirah Bay Island, a man-made island in the shape of a seahorse. Jumeirah Bay Island is man-made, like the World Islands and Palm Jumeirah. GooglePrices on Jumeirah Bay Island are so expensive because there were only 128 plots originally put on offer. By comparison, there are thousands of homes on the tree-shaped Palm Jumeirah island, and 300 in the World Islands archipelago.
Bond giants Pimco and Invesco lost hundreds of millions of dollars, according to data from Bloomberg. They held Credit Suisse's AT1 bonds – which were marked down to zero by the Swiss regulator a week ago. FINMA, which is Switzerland's top financial regulator, marked the value of all Credit Suisse AT1s down to zero when UBS's takeover of the struggling bank was confirmed. Pimco had $807 million worth of Credit Suisse CoCos written off when the bank was rescued, according to Bloomberg – while Invesco held around $370 million worth of AT1 debt at the time of the takeover. Here's what you need to know about AT1 bonds.
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