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Saudi crown prince phoned Kuwait's Emir, expressing Saudi Arabia's solidarity with and support for Kuwait.

2026-07-22

Saudi crown prince phoned Kuwait's Emir, expressing Saudi Arabia's solidarity with and support for Kuwait.

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2026-07-22

Xi Jinping gave important instructions on basic education, emphasizing the need to fully implement the Party's education policy, fulfill the fundamental task of fostering virtue through education, and continuously create a new situation of high-quali

Xi Jinping gave important instructions on basic education, emphasizing the need to fully implement the Party's education policy, fulfill the fundamental task of fostering virtue through education, and continuously create a new situation of high-quality development in basic education.
2026-07-22

Credit spreads for high-performance computing companies' bonds have risen to a new high of 154.6 basis points. This widening spread indicates investors are demanding higher risk compensation, reflecting both the rapid increase in AI capital expenditu

Credit spreads for high-performance computing companies' bonds have risen to a new high of 154.6 basis points. This widening spread indicates investors are demanding higher risk compensation, reflecting both the rapid increase in AI capital expenditures and bond issuance, and a market reassessment of whether long-term cash flow can cover massive investments. Large tech companies have already significantly increased their bond issuance this year, and continued supply expansion may further test buying capacity. SpaceX is under the most significant pressure. Its long-term bond prices have fallen to around or below par value, with spreads widening to approximately 231 basis points. Market pricing is approaching that of some BB-rated high-yield bonds, despite its official rating remaining investment grade.
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