South Korea's Future Response Fund, sized at 162.3 trillion won and financed by excess tax receipts linked to the semiconductor cycle, is expected to operate for just 4–5 years, government officials told local media. The fund channels tax revenue that exceeds the 10‑year average domestic tax‑growth rate; the 162.3 tln won figure is the projected extra tax in 2027. Officials say a semiconductor downturn would sharply cut future inflows, prompting the government to screen projects that can be comp

伊朗国家石油产品精炼与分配公司总经理：我们通过一些措施实现了5%的汽油产量增长。

Alain Bokobza, head of global asset allocation at Societe Generale, says the US 10-year yield at 5.5% is a critical threshold: higher borrowing costs would outstrip earnings growth and begin to press equity valuations. He notes sizable global earnings upgrades this year have so far prevented a collapse in equity risk premia and that equities are not pricier than at the start of the year, but 5.5% is the level where further earnings revisions would likely be insufficient to sustain current valuations. Bokobza expects forthcoming Fed and ECB hikes to be modest and not aggressive enough to break the cycle or fully allay inflation concerns. J.P. Morgan’s Grace Peters and Barclays’ Emmanuel Cau have flagged a 5% 10-year yield as a psychologically significant level that could prompt stress in equity markets.