美元兌日元USD/JPY跌破153，刷新今年2月以來新低，日內跌幅達0.87%。

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.

Goldman Sachs sharply raised its global optical module market forecast, now projecting market size at about $67.7bn in 2026, $131.4bn in 2027 and $148.5bn in 2028—up 33%, 81% and 115% versus its prior outlook. Goldman says the revision reflects not just higher AI server counts but a structural shift to higher-speed networking in AI server architectures and a rising optical-module count per GPU/ASIC, driving rapid demand growth for 800G, 1.6T and 3.2T modules.