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‘Real Housewives of New York City’ Star Jessel Taank Doesn’t “Regret” Kicking Erin Lichy Out Of Her Party: “I Wanted To Go Into The Year With Good Vibes”
CVS to pay up $20.5M in class action settlement — find out who qualifies
Hottest El Niño on record could kill up to 451,000 people in six months, scientists claim — warning of a deadly new normal
10Y Yield Spikes Above 5.00% After Blowout Beats For US PMIs
With 'hard' economic data still somewhat muted, expectations were for a modest retracement in US PMIs from recently optimistic levels in preliminary September data.
Instead, the 'soft' survey data soared:
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Flash US Services PMI Business Activity Index: 58.7 vs 55.8 exp (August: 56.5). 59-month high.
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Flash US Manufacturing PMI: 57.0 vs 53.7 exp (August: 53.9). 52-month high.
The headline flash S&P Global US PMI Composite Output Index rose from 56.0 in August to 58.4 in September, registering the fastest expansion since July 2021 and an acceleration of growth for a fourth successive month.
Growth was driven by the service sector, which reported the steepest rise in output for over five years, but a welcome development in September was an accompanying acceleration of manufacturing output growth to the fastest since April 2022. New order inflows also gathered pace in both sectors, with growth reaching the highest since March 2022 in the service sector and the highest since April 2022 in manufacturing. In both cases, demand was buoyed principally by the domestic market, as goods export volumes continued to fall and services exports rose only modestly.
“US business continues to boom, with output growing at the fastest rate for over five years in September," said Chris Williamson, Chief Business Economist at S&P Global Market Intelligence.
Historical comparisons suggest that the latest survey data point to annualized growth of around 5% with a 4% gain now signalled for the third quarter as a whole...
To put the growth surge in context, barring the spike in demand following the opening up of the economy after the COVID-19 lockdowns, the latest improvement in business activity is the greatest recorded since early 2015 with Williamson noting that:
"Business is clearly booming now in both manufacturing and services."
However, he adds, this growth is being accompanied by some of the most severe supply chain bottlenecks seen in the near-two-decade survey history if the pandemic is excluded, with companies also reporting increasing problems finding suitable staff.
Backlogs of work are consequently rising sharply. While this accumulation of uncompleted orders bodes well for the further expansion of output and capacity in the coming months, it also indicates that companies are developing more pricing power, and hence is a worry for the inflation outlook.
“Firms’ input costs have meanwhile jumped in September at the steepest rate for four years, with fuel and transport costs spiking higher thanks to the rise in oil prices seen during the month, which will add further to the upward pressure on selling prices and inflation in the coming months.”
As a result of all this, 10Y yields have spiked back above 5.00%...
...and rate-hike odds picked up for October.
That was quite a shocker!!
FOR ZEROHEDGE READERSA $10 HEDGE,ON US.$10 off one order of $30 or more. New or returning, one per person. YOUR EMAILGET MY $10 →Signs you up for ZeroHedge Store emails. $30 minimum, once per person, can't be combined. Every order helps support ZeroHedge. Tyler Durden Wed, 09/23/2026 - 09:55
China lays out ‘red lines’ for Trump-Xi meeting as GOP lawmaker criticizes ‘lavish welcome’
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Prince Harry returns to New York after shocking UK move and more star snaps
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OpenAI, Anthropic To Brief UN Security Council On AI Risks
Authored by Ezra Reguerra via Cointelegraph,
Anthropic CEO Dario Amodei and OpenAI CEO Sam Altman are expected to brief the United Nations Security Council on Wednesday as the body examines artificial intelligence risks and their implications for international security.
According to CNBC, the UN confirmed Altman and Amodei's participation.
Hugging Face CEO Clément Delangue and Yoshua Bengio, co-chair of the UN's Independent International Scientific Panel on AI, are also expected to take part.
Reuters reported that the Security Council meeting will examine growing concerns over AI's impact on international security.
Chinese AI companies DeepSeek and Moonshot have been invited to make statements at the meeting, according to Reuters.
DeepSeek is expected to participate, though its founder Liang Wenfeng does not plan to attend, the report said, citing a source familiar with the matter.
The Security Council first formally discussed artificial intelligence in 2023, Reuters reported, as governments began examining its security implications.
France is convening the Security Council meeting on Wednesday. Reuters reported that the discussion comes amid growing concerns about increasingly capable AI systems and the potential loss of human control.
Cointelegraph reached out to Anthropic, OpenAI and the UN spokesperson's office for confirmation and comment but had not received responses before publication.
Tyler Durden Wed, 09/23/2026 - 09:30