Japan Q2 corporate spending (GDP component) final QoQ -0.9% vs -0.8% est; prior -1.2%.

UK Chancellor Healy said the government needs to control spending.

JPMorgan position monitor (Sept. 7) — surface volatility last week but limited net position change. Global hedge funds raised gross exposure on four of the past five trading days; weekly cumulative change was +1.3 standard deviations, the largest since late June, yet net positions moved little. US-related positions remain around the 40th historical percentile; global hedge fund net exposure is about the 40–50th percentile over the past five years. Retail and institutional sentiment is cooling. US healthcare shows signs of a near-term top: retail sentiment has slipped, hedge funds are selling and ETF inflows have stalled. Cyclicals could catch up to defensives; hedge funds are buying energy, but only so long as bond yields do not rise rapidly enough to trigger broad risk-off.