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UBP Weekly View - AI spending doubts and French stress weigh on markets
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26.10.2026

UBP Weekly View - AI spending doubts and French stress weigh on markets

Global equities slipped for a second week as investors questioned whether debt-funded artificial intelligence (AI) spending can earn adequate returns. US Treasury yields fell back below 5%, while French government bond spreads reached their widest levels since the eurozone crisis. Hyperscaler earnings and a string of major policy meetings make this a decisive week, though most central banks are expected to leave their interest rates unchanged.

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