New York Fed data: SOFR underlying overnight repo trading volume fell to $2.808tln on Aug. 28, about 20% below the Jan. 2 peak of $3.508tln but only down 2.2% YoY. SOFR was 3.65% with the 99th percentile at 3.73%, not showing a classic funding squeeze. CFTC data through Aug. 25 show leveraged funds cut 10‑year Treasury futures shorts by roughly 130,000 contracts while 5‑year shorts rose about 72,000 contracts, so there is no uniform unwind across tenors. The SOFR volume decline alone is insuffic

BYD Semiconductor launched a next‑generation automotive‑grade 4D millimeter‑wave radar chip using a satellite architecture centered on the Xuanji A3 compute module. The in‑house chip provides a MIPI CSI‑2 high‑speed interface and broad compatibility with mainstream SerDes links for seamless integration with major automated‑driving chip platforms. It has completed joint tuning with the Xuanji A3 driving chip and meets Tier‑1 module makers’ detection‑performance requirements. Fabricated on a mature 28nm automotive process, the chip targets demand for high‑resolution radar systems in the automotive market.

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