PBOC conducted CNY15 bln 7-day reverse repos today; bid and allotment volumes were CNY15 bln and the operation rate was 1.40%. It also carried out CNY1 tln overnight reverse repos.

Microsoft is conducting its first investment-grade bond issuance since 2017 as AI-driven investment lifts financing demand. The deal is split into 10 benchmark tranches with maturities from 2 to 40 years. The longest tranche, due 2066, carried initial price guidance of up to 135 bps over U.S. Treasuries. Wells Fargo, JP Morgan and UBS are leading the sale. Proceeds are earmarked for general corporate purposes, including capex. Microsoft’s prior investment-grade bond offering was in 2017, when it raised $17.0 bln across seven tranches.

Amazon (AMZN.O) CEO said AWS will generate more revenue than previously expected.