[Edaily Reporter kyoungeun kim ] On the 29th (local time), the New York stock market fell for the second consecutive day. Despite a decline in international oil prices, long-term Treasury yields surged, putting pressure on the market. The yield on the 30-year Treasury note soared to 5.62%, its highest level since June 2002, while the 10-year yield reached 5.293%, its highest since June 2007.
The consumer confidence index fell to its lowest level in over 12 years, and job openings also declined, raising simultaneous concerns about high inflation and an economic slowdown. However, the stock market recovered much of its intraday losses after John Williams, president of the New York Federal Reserve, stated, “There is no need to rush the next rate hike.”
President Trump is scheduled to announce the first set of South Korean strategic investment projects

on the 30th. It is reported that the announcement will include energy projects worth over $54 billion, such as an Alaska liquefied natural gas (LNG) facility and nuclear power plants.

Here are the news items to watch before the market opens on the 30th.
◇30-Year Bond Yield at 5.62%, Highest Since 2002… New York Stock Market Falls for Second Consecutive Day
- On the 29th (local time), the Dow Jones Industrial Average closed at 51,349.92, down 0.26% from the previous trading day. The S&P 500 index closed at 7,670.84, down 0.17%, and the Nasdaq index closed at 26,797.54, down 0.09%. All three major indices fell for the second consecutive day.
-Brent crude futures fell 2.6% to $102.59 per barrel on news of a recovery in Middle Eastern crude oil exports, but the 30-year Treasury yield soared to 5.6206% during the session, its highest level since June 2002. The 10-year yield also hit 5.293%, its highest level since June 2007. The 30-year yield rose for the sixth consecutive trading day. This is interpreted as a result of massive corporate bond issuance and inflation concerns exacerbating upward pressure on long-term interest rates.
-Bank stocks, including JPMorgan Chase, Morgan Stanley, and Bank of America, led the decline. Credit rating agency FICO plummeted 26.5% following the housing finance authority’s plan to overhaul the pricing structure for mortgage credit ratings. In contrast, Meta rose 3.3%. Carnival surged 13% after raising its full-year earnings forecast.
◇Probability of an October Rate Hike Drops from 70% to 50% Following Williams’ Remarks
- John Williams, President of the New York Fed, stated that while further rate hikes might be appropriate, there is “no need to rush the next hike” given that the benchmark rate was already raised this month. Immediately following his remarks, short-term Treasury yields fell, and stock market losses narrowed. According to the CME FedWatch tool, the probability of a benchmark rate hike at the October Federal Open Market Committee (FOMC) meeting fell from about 70% to about 50% during the trading session.
- Michael Barr, a Fed governor, reiterated the possibility that additional rate hikes may be necessary to curb inflation. Austan Goolsbee, president of the Chicago Fed, also warned that “it is risky to allow inflation to remain above the Fed’s target for an extended period.”
-Market attention is focused on the August Personal Consumption Expenditures (PCE) Price Index, to be released on the 30th, and the September jobs report, due on October 2. Tim Griskie, a strategist at Ingalls & Snyder, emphasized, “Tomorrow’s PCE release will be important.”
◇Consumer Confidence Hits 12-Year Low; Job Openings Drop by 250,000
-The Conference Board’s September Consumer Confidence Index fell to its lowest level since 2014. According to the Department of Labor, job openings in August totaled 7,079,000, a decrease of 256,000 from the previous month. This figure also fell short of market expectations (7,225,000).
-Jeffrey Roach, chief economist at LPL Financial, analyzed that consumers are scaling back plans to purchase high-priced items such as homes and cars as they feel it has become more difficult to find jobs. However, some observers note that since actual layoffs have not yet increased significantly, this is unlikely to immediately bring about major changes in the outlook for Federal Reserve policy.
◇Trump to Announce South Korean Investments in the U.S. on the 30th… Including Alaska LNG and Nuclear Power Plants
-President Trump is scheduled to announce the first batch of South Korea’s strategic investments in the U.S. from the Oval Office on the 30th. Citing multiple sources, Bloomberg reported that the package will include large-scale energy projects, such as an Alaska LNG project and nuclear power plants, totaling approximately $54 billion.
-Last year, as part of a tariff agreement with the U.S., South Korea pledged a total of $350 billion in investment in the U.S. Of this amount, $200 billion was earmarked for strategic investments in energy and high-tech industries, and this marks the first stage of selecting specific projects. Commerce Secretary Rutnik and Interior Secretary Burgum are also scheduled to attend the event.
- However, since the $54 billion figure is close to the total scale of the Alaska LNG project, South Korea’s actual investment amount is expected to be determined separately. The South Korean government has consistently cited commercial viability as a key criterion, and under the South Korea-U.S. agreement, the amount of U.S. dollar funding required for strategic investments is capped at no more than $20 billion annually.
◇OpenAI Seeks $30 Billion in Investment After IPO Delay… Valuation at $1.4 Trillion
-Bloomberg reported that OpenAI is discussing raising at least $30 billion (approximately 40 trillion won) in new investment instead of proceeding with an initial public offering (IPO). The target valuation is $1.4 trillion (excluding the new investment). This is significantly higher than the valuation ($852 billion) at the time of its funding round last March.
- OpenAI’s annualized revenue surpassed $40 billion last summer and has surged 70% since July. At a developer event held today, the company unveiled “Dots,” a new autonomous Agent AI. The service connects to business apps such as Slack and Microsoft Teams to handle tasks like research, document drafting, and software development. A premium plan priced at $500 per month was also introduced.
-CEO Sam Altman stated that the company will not pursue an IPO this year in order to focus on addressing AI safety concerns. Bloomberg reported that competitor Anthropic is expected to go public as early as this fall.