Fitch: Global economic growth remains intact, but real interest rates have risen.

Euro-area bond yields fell; the German 10-year Bund yield dropped 2 bps to 3.43%.

Fitch said in a report that rising AI workloads are making Japan’s data-center sector more electricity-intensive, with power availability increasingly determining development timelines, site selection and project feasibility. Power and land constraints in the Tokyo region are shifting future build activity toward other prefectures better positioned to support AI infrastructure and higher power demand. Local community opposition in some municipalities is raising execution risk, and government policy is moving to encourage wider geographic distribution of digital infrastructure.