Germany's 5-year bond yield rose 1bp to 3.00%, reaching 3% for the first time since 2008.

Morgan Stanley economists say domestic inflation pressures in the UK appear less severe than headline CPI suggests. July CPI rose to 2.9% from 2.6% in June, but services inflation slowed to 3.4% YoY from 3.6% and private‑sector wage growth remains weak as core services inflation decelerates. A competitive retail environment is limiting pass‑through to food prices. While a persistent energy shock could raise indirect and second‑round inflation risks, weaker wages and mild services inflation are likely to absorb most of the pressure.

Tianfu Communications said in an investor-relations record that its CPO (co-packaged optics) supporting products have entered mass production and delivery and product yields meet scale-production requirements. The company will pre-position capacity based on customer demand forecasts to meet customers' long-term ramp needs.