AI Releases Lower Long‑Term Yields

An event study of 2023–24 frontier AI model launches finds long‑maturity Treasury, TIPS, and corporate yields fall and remain lower for weeks. In a standard asset‑pricing lens, this looks like a downward revision to expected consumption growth and/or a reduced perceived probability of extreme outcomes (doom or post‑scarcity), not increased growth uncertainty. — Markets’ immediate reaction suggests skepticism about near‑term transformative AI growth paths, informing monetary policy, investment narratives, and AI governance debates.