JP Morgan cuts PepsiCo PT to $137 from $138.

US 4-week Treasury bill auction to Oct. 8: share awarded at the stop-out yield 50.05% (prev. 23.52%).

German magazine WirtschaftsWoche reports Iranian intelligence is suspected of targeting two US bases in Germany: Ramstein in Rhineland-Palatinate and Spangdahlem in the Eifel. Multiple Western intelligence sources say roughly three weeks ago agencies including Israeli intelligence warned US and German counterparts; the New York Times has similarly reported. Spangdahlem hosts the USAF 52nd Fighter Wing and F-16s and has served for months as a logistics transit hub for deploying fighters to the Iran theater. Ramstein is headquarters for US Air Forces in Europe and Africa, a primary transit node for US–Middle East transport and operations, and houses a satellite relay station that forwards drone communications from the Middle East. Sources say the bases are being targeted because of their direct role in US operations against Iran.