News

1. **Monday:** ① Data: Canada's August CPI month-on-month rate; China's August M2 money supply year-on-year rate (to be determined). ② Holiday: The National Stock Exchange of India is closed for one day. 2. **Tuesday:** ① Data: China's August retail sales of consumer goods year-on-year; China's August industrial value-added year-on-year; UK's July three-month ILO unemployment rate; UK's August unemployment rate; UK's August jobless claims; France's final August CPI month-on-month rate; Germany's September ZEW economic sentiment index; Eurozone's September ZEW economic sentiment index; Eurozone's July seasonally adjusted trade balance; US ADP employment change for the week ending August 29; Canada's July wholesale sales month-on-month rate; US September New York Fed Manufacturing Index; China's August total electricity consumption year-on-year; China's August total electricity consumption (to be determined). ② Events: The National Energy Administration releases data on total electricity consumption around the 15th of each month; the National Bureau of Statistics releases monthly reports on residential sales prices in 70 large and medium-sized cities; the State Council Information Office holds a press conference on the operation of the national economy. 3. Wednesday: ① Data: US API crude oil inventories for the week ending September 11; UK August CPI month-on-month rate, UK August retail price index month-on-month rate; Eurozone July industrial production month-on-month rate; US August retail sales month-on-month rate, US August import price index month-on-month rate, US September NAHB housing market index, US July business inventories month-on-month rate, US EIA crude oil inventories for the week ending September 11, US EIA Cushing, Oklahoma crude oil inventories for the week ending September 11, US EIA strategic petroleum reserve inventories for the week ending September 11. ② Event: European Commission President Ursula von der Leyen delivers her State of the Union address. 4. Thursday: ① Data: US Federal Reserve interest rate decision (upper limit) to September 16; China's August SWIFT RMB share in global payments; Switzerland's August trade balance; Eurozone August final CPI year-on-year rate, Eurozone August final CPI month-on-month rate; UK central bank interest rate decision to September 17; US initial jobless claims for the week ending September 12, US August annualized housing starts, US August building permits, US September Philadelphia Fed Manufacturing Index, US August pending home sales index month-on-month, US EIA natural gas storage for the week ending September 11. ② Events: US Securities and Exchange Commission holds roundtable discussion on 24-hour trading; Bank of Canada releases monetary policy meeting minutes; Federal Reserve FOMC releases interest rate decision and economic projections summary, Federal Reserve Chairman holds monetary policy press conference [simultaneous interpretation]; Bank of England releases interest rate decision and meeting minutes. 5. Friday: ① Data: UK September GfK Consumer Confidence Index; Japan August Core CPI YoY; Germany August PPI MoM; UK August Seasonally Adjusted Retail Sales MoM; Eurozone July Seasonally Adjusted Current Account; US August Industrial Production MoM; US August Conference Board Leading Economic Index MoM; China August Year-to-Date National Power Generation Capacity; China August Year-to-Date National Power Generation Capacity YoY (TBD); Bank of Japan Target Interest Rate to September 18 (TBD). ② Events: RBA Governor Bullock attends hearing; Bank of Japan announces interest rate decision; Bank of Japan Governor Ueda Kazuo holds monetary policy press conference. 6. Saturday: ① Data: US Total Oil Rig Count to September 18.

US President Trump: Laser weapons are very, very effective against certain types of slow-moving missiles. I believe laser weapons will be the future.

According to sources familiar with the matter, Anthropic's gross margin exceeds 80% before including revenue shared with distribution partners such as Amazon and model training costs.

According to the Financial Times, Dell's (DELL.N) family office is close to finalizing a deal to privatize Baldwin Group.

The 10-year U.S. Treasury futures contract rose 3 points, and the 30-year Treasury futures contract rose 2 points.

Nasdaq futures fell 1% in early trading on Monday, while S&P 500 futures fell 0.5%.

Musk: I am confident that SpaceX will deploy the Nvidia VR NLV72 AI computer in space next year.

U.S. Central Command: As of September 13, the U.S. military had diverted 101 merchant ships to ensure compliance.

Unlike Trump's habitually swift reactions, Canada appears to be waiting for the right moment. Carney and his cabinet spent most of this week emphasizing efforts to build closer ties with other countries and plans for domestic infrastructure spending, avoiding questions about further retaliatory tariffs. Polls show widespread support among Canadians for Carney's decision to abandon a poor deal with the US and take countermeasures. Many Canadians even want to go further, supporting export taxes to raise prices for oil, gas, and electricity shipped to the US. Andrew McDougall, assistant professor of Canadian politics at the University of Toronto, said domestic opposition to compromise has put Carney in a dilemma and made it difficult for him to reopen negotiations. Since the breakdown of negotiations, Carney and his government officials have stated that the failure stemmed from several demands from the US. These include: tariffs on steel, aluminum, and automobiles remaining high enough to make these industries uncompetitive; demands that Canada accept tariffs from a country with which it has a free trade agreement; demands to amend Canadian laws protecting its culture and the French language; and demands that Canada align its trade policies with Trump's, rather than continuing to make trade agreements with other countries. Carney stated that these demands are "simply unacceptable." U.S. officials disagreed with some of the statements above, but they remained clear that Trump would not grant tariff exemptions to any country. "This is a very difficult political situation," said Professor McDougall, adding that Carney "has to show that he is advocating for the country." He said, "It's difficult to talk about restarting trade negotiations when it's still unclear where they are headed and what form they will take." In Professor McDougall's view, much of Carney's public support stems from the perception that he "acts rationally." This contrasts sharply with Canadians' views of Trump. (The above views are from a New York Times analysis published on December 12th.)

Microsoft Chairman and CEO Satya Nadella: This is exactly the approach we're taking—providing broad access and choice at every layer of the AI ​​technology stack; giving enterprises control over the continuous learning loop and models; and adhering to a set of "codes of conduct" that apply to our self-developed first-party MAI models. We will release these guidelines tomorrow and solicit public feedback.

Microsoft Chairman and CEO Satya Nadella: The key is that this field cannot be controlled by a few entities, but must involve the entire ecosystem, different countries, and various sectors, including academia.

Microsoft Chairman and CEO Satya Nadella: In this context, we welcome the necessary research, attention, and conscious pacing to ensure that "alignment" becomes a design goal. We also welcome ideas such as "embedded evaluators," and broader efforts to drive the establishment of mechanisms that ensure these ideas don't just remain words.

Microsoft Chairman and CEO Satya Nadella: For businesses, it is crucial to maintain complete control over their unique and tacit knowledge. Every organization should be able to build its own continuous learning loop and "climber" without relying on any model vendor, and should also be able to embed its own knowledge into models and model weights that it controls.

Microsoft Chairman and CEO Satya Nadella: We also need to accelerate the development of AI and expand its benefits so that they can reach a wide range of countries, communities, and businesses. This requires building a cutting-edge ecosystem where both closed-source and open-source models can thrive.

Microsoft Chairman and CEO Satya Nadella: Any pursuit of superintelligence must be based on a core principle: if the AI ​​we create cannot help humanity and cannot be controlled by humans, then it is not worth continuing to develop.

Trump: This magnificent banquet hall under construction at the White House will be the "greatest" of its kind in the world! Furthermore, the construction of this banquet hall will be a gift to the United States from me and other American patriots, and no taxpayer funds will be used in the construction process.

Despite a US maritime blockade, Bushehr province in southern Iran exported over $2.3 billion worth of goods between March and August this year, according to the province's customs department. The Islamic Republic News Agency (IRNA) reported that Ali Soleimani, head of Bushehr's customs department, stated on Sunday that the province exported 5.1 million tons of goods during this five-month period. Soleimani indicated that petrochemical products and various types of liquefied gas were among Bushehr's main exports. He also said that the province has exported goods to 32 countries this year, including the United Arab Emirates and Pakistan.

According to Iran's Tasnim News Agency, the National Petroleum Products Distribution Company of Iran issued a statement denying previous claims that gasoline quotas of 3,000 and 5,000 rials for vehicles valued at over 1 billion rials would be cancelled. The statement clarified that, except for government vehicles, imported vehicles, vehicles in free trade zones, and second or subsequent vehicles registered under the names of multi-car owners, all existing private passenger vehicles are entitled to a monthly gasoline quota of 60 liters at 1,500 rials per liter and 50 liters at 3,000 rials per liter. Regarding newly manufactured private passenger vehicles for which a price cap of 1 billion rials was previously set to determine quota eligibility, the relevant working group is studying raising this price cap in light of market changes. The statement emphasized that the allocation method and amount of gasoline quotas remain unchanged; only the price of the third tier of gasoline has been increased from 5,000 rials per liter to 10,000 rials per liter.

Trump: I did a lot of business in Ireland. My approval rating in the United States is very high. Other presidents have allowed huge deficits, but I will never allow them.

The U.S. National Security Agency has initiated an organizational restructuring, proposing to establish several new agencies focusing on areas such as artificial intelligence, cybersecurity, warfare, and global intelligence.