In the past week, the yield on the benchmark 10-year U.S. Treasury note shot from 1.98% on March 12 to 2.29% on March 16. Over the same stretch, the Alerian MLP Index (AMLP) is down 1.06%, the Utilities SPDR (XLU) is lower by 1.32% and corporate bonds, tracked by the LQD, are trading lower in price by 1.53%. *******READ MORE/ VIDEO
NEW YORK—Artificial intelligence is rapidly becoming the defining force shaping banking strategy, with 80% of banking executives now expecting AI to significantly disrupt their business and operating models within the next three to five years, according to KPMG's 2026 Banking Technology Survey. The survey of 200 U.S. banking executives found institutions are responding by accelerating investments in cybersecurity, payments modernization and technology-driven acquisitions. "AI, payments modernization, cybersecurity, and tech-driven M&A are no longer separate agendas," said Peter Torrente, KPMG's U.S. Banking Sector Leader, who said banks are increasingly being challenged to keep pace across technology, risk and growth simultaneously. Cybersecurity remains a top concern. More than three-quarters (76%) of banking leaders reported an increase in cyberattacks over the past year, while 92% said they are boosting cybersecurity budgets. In addition, 84% are increasing cyb...

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