At the morning open, China bond futures: 2-year (TS) most-active contract up 0.01%; 5-year (TF) and 10-year (T) most-active contracts unchanged; 30-year (TL) most-active contract down 0.01%.

Walmart (WMT.N) expects full-year net sales to rise 4–5%, below consensus of 5.3%. It projects full-year adjusted EPS of $2.80–2.87, under the $2.90 consensus, and Q3 adjusted EPS of $0.62–0.64, below the $0.68 consensus.

Aug. 21 — Chinese AI chipmaker Moore Threads founder Zhang Jianzhong said at the 2026 World Robot Conference that the embodied-intelligence sector is entering a ChatGPT-style inflection and that compute capacity is the critical constraint. Language models have passed the trillion-parameter threshold, and driven by scaling laws embodied-intelligence models are advancing from billions and tens of billions to hundreds of billions and trillions of parameters. AI compute clusters will expand from thousands of accelerator cards to tens of thousands, and a move toward 100,000-card scale has become inevitable.