纽约联储数据显示，8月28日SOFR底层隔夜回购成交量降至2.808万亿美元，较1月2日3.508万亿美元的高点下降约20%；但同比仅减少2.2%。SOFR利率为3.65%，99分位为3.73%，仍未显示典型的融资挤压。截至8月25日，CFTC数据显示，杠杆基金的10年期美债期货空头减少约13万张，5年期空头却增加约7.2万张，尚未形成各期限一致撤退。因此，SOFR成交量下降不足以证明基差交易全面平仓或美债需求快速撤退。

The Information reports Elon Musk has in recent weeks reorganized the team responsible for SpaceX data-center builds, replacing several leaders and moving executives from the rocket and satellite-internet units to bolster infrastructure delivery. Two people familiar with the matter said the move follows civil-engineering defects and ongoing reliability issues at SpaceXAI data centers in Tennessee and Mississippi. Sources said early AI infrastructure was rushed, leaving some sites operating for months without redundant cooling and power systems, increasing the risk of outages.

CSI 300 index futures (IF) most-active contract down 0.11%; SSE 50 index futures (IH) most-active contract up 0.29%; CSI 500 index futures (IC) most-active contract down 0.84%; CSI 1000 index futures (IM) most-active contract down 0.68%.