Bank of Korea governor said core inflation is expected to average 2.5% in 2026 and 2027.

据高盛统计，Meta、微软、Alphabet、亚马逊和甲骨文的季度自由现金流，2026年二季度合计已降至接近零。最新财报印证了现金流压力：Alphabet二季度自由现金流首次转为−58.6亿美元，Meta仅剩7.84亿美元；亚马逊当季资本开支超过经营现金流约88亿美元，而微软仍实现196亿美元自由现金流。 这并不等于五家公司主营业务开始“烧钱”，而是AI服务器、数据中心和电力基础设施的投入增速暂时超过经营现金流增速。现金流收缩正推动科技巨头减少回购，并更多依赖债券、股权和项目融资，AI投资周期由“利润自筹”转向“外部融资”。 分析师预测2029年单季自由现金流将升至约1200亿美元，其前提是资本开支增速明显放缓，同时云计算与AI收入快速兑现。若算力需求继续超过供给、设备价格上涨或AI变现不及预期，反弹时间可能后移。

Gold rose modestly on Thursday as dollar-depreciation fears and anticipation of Fed chair Kevin Warsh’s speech underpinned prices. OANDA senior market analyst Kelvin Wong said the dollar-weakness narrative combined with U.S. budget-deficit concerns provides medium-term support for bullion. The U.S. Treasury’s move to expand purchases of previously issued long-term bonds intensified dollar-depreciation worries; gold gained more than 5% last week. Wong said markets are awaiting Warsh for clearer guidance on how the Fed will respond; absent specific forward guidance, current market pricing for rate hikes is likely to remain largely unchanged. Geopolitical risk: the Qatari PM will visit Tehran to restart diplomatic mediation amid renewed U.S.-Iran mutual accusations, focused on Washington’s pledge to tighten pressure via sanctions on Iran’s trading partners.