Japan JGBs: Households bought a record ¥5.14 trillion of government bonds between April and September.
10-year yield: The US 10-year has settled above 5% for the first time since 2007.
China reserves: Treasury holdings are down about $500 billion since 2020 as gold reserves rose roughly 20%.
Equal weight: RSP has now fallen for five straight weeks, only the sixth such streak on record.
AI revenue web: A large share of AI-linked company revenue now depends on spending from a small group of players.
Broad inflation: More than half of CPI components are still running above a 3% annualized pace.
