Apple (AAPL.O) said in an SEC filing that Executive Chair Cook's annual salary will be set at $2.0m effective Sept. 26, 2026, and he was approved for a FY2027 annual equity award with a target value of $45.0m.

US Dollar: 1. Trump: Interest rates are too high. Respect Warsh; he will do what he has to do. 2. Barclays: The US-Venezuela oil deal could impact the bond recovery outlook. 3. The US 10-year Treasury yield broke through 4.75%, reaching a new high since January 2025. 4. Fed Chairman Warsh: My previous relationship with Treasury Secretary Bessenter has proven productive. A period of stagnation seems to be a description of the past. The current period is a phase of surging global investment. A global savings glut seems like a thing of the past. 5. US Treasury Secretary Bessenter: Unable to change the equilibrium price of bonds; will work with Warsh to advance fiscal integration. 6. US Treasury Secretary Bessenter: Traditionally, interest rates are not raised during supply shocks. 7. The number of days so far this year where the 30-year US Treasury yield has closed above 5% is the highest since 2006. Euro: 1. German state inflation data rose in August. 2. German inflation rose slightly, strengthening the case for a European Central Bank (ECB) interest rate hike. 3. ECB Governing Council member Rehn: Middle East conflict could lead to persistently high inflation in the Eurozone. Japanese Yen: 1. According to Nikkei: Japan's budget request for fiscal year 2027 is expected to reach a record 143 trillion yen. 2. US Treasury Secretary Bessenter: He believes in Japan and the Bank of Japan will take measures to boost the yen. 3. Bessenter met with the Bank of Japan governor and finance minister, stating that Japan needs to clarify its interest rate hike path. 4. Japanese Minister of Economy, Trade and Industry, Minoru Jonouchi: Japan's record budget request needs to be compared within a larger fiscal context. 5. Japanese Finance Minister Satsuki Katayama: He confirmed with US Treasury Secretary Bessenter that coordinated foreign exchange actions will continue. 6. A senior Japanese Ministry of Finance official stated that the Bank of Japan should formulate monetary policy based on economic needs, not US demands. 7. The yield on Japanese 10-year government bonds rose to 3% for the first time since September 1996. South Korean Won: 1. Unexpected growth in chip tax revenue helps South Korea expand its fiscal budget to a record high. 2. South Korea plans to issue 222.8 trillion won in bonds in 2027. Other: 1. Swiss banking professionals expect the Swiss National Bank to maintain zero interest rates until 2027. 2. Central banks in Indonesia and Singapore stated they will promote local currency settlement in bilateral transactions. 3. Reuters poll: The Central Bank of Israel may pause rate cuts this week, after two consecutive rate cuts. 4. Swiss National Bank board member Chudin: Will be more willing to intervene in the foreign exchange market if necessary. 5. India's economic growth in the April-June quarter was faster than expected. 6. Central Bank of Russia: The structural liquidity shortage in the banking system is expected to increase by 54% to 7.1 trillion rubles by the end of 2027. 7. The Central Bank of Russia: New high-risk scenario forecasts indicate that oil prices will average $35 per barrel in 2027, GDP will shrink by 3%-4%, and inflation will rise to 11%-13%. 8. Brazilian Vice President Alquemín: I know clearly that interest rates need to be lowered further.

Market news: U.S. Treasury Secretary Bessant emphasized the importance of formulating and communicating monetary policy in order to stabilize inflation expectations during a meeting with Bank of Japan Governor Kazuo Ueda.