CNBC reported US Treasury Secretary BESSENT may use the Treasury General Account (TGA) at the Federal Reserve to fund Treasury buybacks. Castle Securities called such intervention “financial repression,” arguing it could lower long-term yields, weaken the dollar and raise imported inflation by altering market pricing of the US fiscal outlook and inflation risks. Shah said suppressing long yields will not remove upward pressure on yields amid tight labor and large AI-related investment; the bond

Deutsche Bank says NVIDIA earnings have become macro events on par with nonfarm payrolls and CPI, but markets are growing less sensitive to “demand continuing to beat expectations.” Recent quarters’ upside surprises have been smaller than in 2023–24, and NVIDIA shares fell the next day after each of the past four reports. Bloomberg reports some large NVIDIA customers were told servers using its AI chips will face price increases. Deutsche Bank views that as further evidence AI could be inflationary: AI capex can raise productivity and supply capacity, yet surging compute demand may generate cost pressure through higher capital-goods (server) prices. As a result, investor focus for upcoming NVIDIA results should broaden from order strength to pricing, costs and industry profit allocation. Continued AI capex growth still validates demand, but sustained server price rises would prompt markets to reassess corporate cost and inflation implications.

Wells Fargo rates MARVELL overweight and raises its price target to $310 from $240, implying roughly 31% upside to last Friday’s close. The bank cites strong year-to-date performance and says MARVELL’s standalone growth dynamics should allow it to outpace the broader semiconductor cycle; the call comes ahead of the company’s upcoming quarterly results, analyst Aaron Lax wrote.