Fed & Rates Watch: August CPI landed as expected, but bonds sold anyway; the 10-year briefly topped 5% and Fed-hike odds jumped toward a near-certain 25bp move, keeping markets on edge. Oil Shock & Inflation Spillover: Middle East supply worries and a Saudi pipeline shutdown pushed crude back above $100, while the IEA cut 2026 demand forecasts and OPEC trimmed growth—fueling a tug-of-war between inflation risk and slower demand. AI Sentiment Hits Equities: Global tech stocks slid as AI leaders urged slowing development, adding to “wait-and-see” trading and pressuring semiconductor-linked sentiment. KOSPI Under Pressure: South Korea’s KOSPI hovered near 6,600 amid thin-ice volatility, with foreign and institutional selling offset by retail support. Retail Cooling: New Zealand retail spending fell in August as higher fuel costs bit; households stayed cautious. Data Centers & Power Costs: BloombergNEF says U.S. data centers will consume more natural gas than nearly every country within a decade, intensifying the debate over energy pricing and grid strain. Crypto Allocation Move: Grayscale launched four crypto model portfolios for advisors, aiming to simplify portfolio construction via ETP-based strategies. Corporate/Legal Risk: Paramount threatened to move jobs and HQ out of California if its antitrust fight blocks the Warner Bros. Discovery deal. Commodities—Coffee, Cocoa, Sugar: Arabica steadied after a 10-week low on Brazil supply/rain signals; cocoa rose on Ghana pay concerns; sugar softened as a weaker Brazilian real encouraged liquidation. Healthcare Stocks: CSL’s rebound continues after a sharp reset, with analysts debating whether $200 is next. Wynn Resorts Financing: Wynn priced $900m of 2035 notes to refinance 2027 debt as expansion keeps leverage elevated.