CITIC Securities says AIDD companies are generally at an early stage and the industry may be entering an accelerated growth phase. It identifies three commercial models in AI biotech: SAAS-only software providers; AI-enabled CROs offering drug screening and evaluation services; and AI-originator drug companies that use platforms to design drugs and advance pipelines. Most firms currently combine models and the overall AI drug market remains small, but greater capital inflows, technology iteratio

U.S. Treasury Secretary Bessent said the recent rise in U.S. Treasury yields is consistent with a global trend and does not warrant overreaction. In an Axios interview Saturday he said he would be worried only by an idiosyncratic spike and that he has not seen flows selling U.S. Treasuries to buy Bunds or JGBs. He added he cannot control the bond market and can only urge market participants to pause and reassess. Bessent praised U.S. financial intervention in Argentina, said he is open to similar assistance in future, and called Argentina’s stabilization potentially generational for Latin America’s alignment with the U.S. He also dismissed concerns of an AI bubble, noting heavy investment from Microsoft, Google and Meta and marked revenue growth at Anthropic and OpenAI.

The U.S. Justice Department will not reopen a criminal investigation into former Federal Reserve Chair Powell, Attorney General Todd Blanche said. The Federal Reserve inspector general's report this week found no criminal conduct in the Fed headquarters renovation cost overrun, which rose to about $2.4 billion; Blanche said he was satisfied with the report but that Powell did not provide adequate oversight of the project. The Federal Reserve will hire an independent auditor to further review the renovation costs, and Blanche said the Justice Department could still open an investigation if that audit uncovers evidence of criminal conduct.