Senator Bernie Sanders proposes legislation imposing a 50% stock tax on large AI companies, reports AP

TREASURY WRAP: T-NOTE FUTURES (U6) SETTLE 12 TICKS LOWER AT 109-18

US FX WRAP: Dollar gains on hawkish FOMC rate decision, statement, SEPs, and new Chair Warsh

Senator Bernie Sanders proposes legislation imposing a 50% stock tax on large AI companies, reports AP

UK's Burnham’s campaign has been forced to talk ministers out of resigning as early as this weekend to avoid Keir Starmer’s government descending into chaos amid fallout from the Makerfield byelection, reports The Guardian

[MARKET UPDATE]: Dollar continues to rally after hawkish Fed statement and hawkish Fed Chair Warsh press conference with both putting a lot of emphasis on returning inflation to target