Goldman Sachs AI Basket Drops 22%, Correlation with Bonds Turns Negative
Current overview (not historical)
Goldman Sachs' AI basket has retreated 22% since early June, and its correlation with long-term Treasuries has turned negative, according to Jurrien Timmer. The validity of this negative correlation depends on bond yields falling due to growth fears rather than inflation spikes. If FOMC meeting results fail to provide bond support, the risk for holders of concentrated AI positions will be tested.
Written with AI from the reporting · updated 10/28/2026
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- 1Unclassified fact stationOct 27, 00:00recorded Oct 28, 12:04single source
AI篮子下跌22%相关性转负债可作对冲
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- Subject：
- Jurrien Timmer
- Action：
- 分析AI抛售与债券相关性转负
- Object：
- Goldman Sachs AI篮子与长期国债
- Occurred (fact side)：
- Oct 27, 00:00
- Published (valid side)：
- Oct 28, 11:30
- First seen (known side)：
- Oct 28, 12:04
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- BeInCryptoRelated fact: single sourceFidelity's Timmer Suggests Bonds Could Hedge AI Selloff as Correlation Turns Negative
Report first recorded Oct 28, 12:04
Fidelity's Jurrien Timmer notes that the Goldman Sachs AI basket has fallen 22% since early June, with its correlation to long-term Treasuries turning negative. This shift suggests bonds could act as a hedge during an AI selloff, though the cushion has limits as it only works when yields fall on growth fears, not inflation. The basket, which tracks AI-linked stocks, saw a drawdown starting with a chip selloff in early June that cut the Nasdaq Composite 4.2% in one session. Money flowed into bonds, pushing the 10-year yield down to 4.96% from 5.13%, its first close below 5% since September 22. However, a rebound in AI stocks on October 26 and upcoming inflation data present fragile conditions for the hedge.
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