美国总统特朗普：我们对海峡拥有完全控制权。

Goldman Sachs Delta-One desk head Rich Privorotsky warned global capital is being heavily absorbed by government financing and AI infrastructure investment. He expects annual AI capex could exceed $1 trillion and become increasingly debt-financed. With major economies still running large fiscal deficits, public spending and AI are drawing on the same capital pool, a squeeze already transmitting to the non-AI economy. Governments typically lack incentives to cut spending, so higher real rates may force more adjustment onto the private sector. Privorotsky cites large-cap re-rating as evidence—stock price action has lagged what EPS revisions alone would explain. On demand, he says fiscal stimulus was largely front-loaded, tariff-driven inventory rebuilds are mostly complete and some demand was pulled forward. As more funds flow to data centres and AI infrastructure, financing, investment and valuations in non-AI sectors could remain under pressure and market dispersion widen.

Federal Reserve minutes show Chair Kevin Warsh proposed reducing the Federal Open Market Committee's annual policy meetings from eight to six. Warsh said six meetings — roughly once every two months — would allow more information to accumulate between meetings and give policymakers and Fed staff more time for strategic research and consideration of monetary policy. He solicited committee views; the minutes state the meeting schedule will not change this year. The minutes note that fewer policy meetings would represent a significant change to how the Fed operates.