U.S. EIA refined products stocks fell 42,000 barrels in the week ended Oct. 2, versus an expected decline of 2.111 mln barrels and a prior decline of 2.251 mln barrels.

China Securities Association data show the securities industry helped sci‑tech firms raise over 540 bln yuan in 1H via IPOs, sci‑tech innovation bonds and other instruments. Fifty‑six firms listed on the STAR Market, ChiNext and the Beijing Stock Exchange, raising 41.67 bln yuan. Brokerages underwrote or managed 553 sci‑tech innovation bonds/ABS totaling 500.08 bln yuan. As strategic investors, brokerages and their alternative subsidiaries participated in IPO follow‑on investments of 860 mln yuan in 1H, with cumulative follow‑on investment near 40 bln yuan, using primarily proprietary capital. As of end‑June, brokerage private‑fund product assets under management stood at 693.69 bln yuan, up 7.88% from last year‑end, directing social capital toward growth sectors.

全球超大规模云服务商在2024年的资本项目支出约为2600亿美元，2025年接近4500亿美元。根据一项估计，到2030年，整个建设周期所需投资可能达到6万亿至7万亿美元。这个数字已经大到多数信贷投资者在以往投资中从未真正面对过。 关键不仅在于支出规模本身，还在于即使拥有最强大资产负债表的企业，也不足以独立承担这些投资。摩根士丹利估计，到2028年，相关支出累计约为3万亿美元。其中，即使假设企业的大部分经营现金流都用于这些投资，也只能覆盖略低于一半的资金需求。 另一半资金必须以债务或类似债务的形式出现在其他企业的资产负债表上。其中，规模最大的外部融资部分预计约为8000亿美元。这部分资金不会主要通过传统企业债券市场进入，而是通过资产支持融资（Asset-Backed Finance，ABF）进入。