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JUST IN: Dario Amodei, Sam Altman, and Elon Musk have all agreed that the AI industry should “slow down”Source: TrendSpider@TrendSpider

China is attempting to refill its oil reserves.Chinese crude imports rose +2.2 million tons in August, to 37.9 million tons, marking their 2nd consecutive monthly increase.This brings the 2-month increase to ~9.0 million tons, or a ~33% recovery from the total drop between January and July this year.The increase in crude supply has also allowed China to ramp up fuel exports, with overseas sales of gasoline and diesel surging +29% last month.However, China's crude imports were down -23% year-over-year and -32% below this year's peak.Meanwhile, China’s massive oil inventories are estimated at more than 1.2 billion barrels, giving the country ample flexibility to reduce purchases as prices rise.China's massive oil stockpile is growing again.

⚠️ What is really pushing US Treasury yields higher?The answer is increasingly structural: government borrowing.US federal debt held by the public has risen from 79% of GDP in 2019 to more than 100% today—and could exceed 150% by 2050.Meanwhile, the AI investment boom is adding another source of capital demand. Data centers, semiconductors and power infrastructure require enormous funding.The result?More government debt.More private investment.More competition for capital.Potentially higher yields for longer.The pressure is already visible: federal interest costs now absorb more than half the US budget deficit, while households and companies face increasingly expensive refinancing.The multi-decade era of structurally declining interest rates may be ending.And America’s growing debt burden could be the force keeping yields elevated.Source: Bloomberg, Global Markets Investor