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Strong US Economic Data Drives Up Treasury Yields

2026.02.03 19:12:27

On February 3, U.S. Treasury yields climbed as latest data pointed to the U.S. economy’s growing resilience. Kudotrade’s Konstantinos Chrysikos noted in a report that Monday’s ISM Manufacturing PMI delivered a “significant upside surprise.” He noted that while employment and inventories remain in contraction territory, a rebound in the employment subindex signals the labor force’s drag on the economy could be easing. “Overall, this data reinforces the view that U.S. economic growth remains resilient,” he said. Per Tradeweb data, the U.S. 2-year Treasury yield rose 1.4 basis points to 3.582%, while the 10-year yield climbed 1 basis point to 4.286% (IG).
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Tendrils completes a $30 million seed funding round, and plans to build a general-purpose processor capable of running thousands of cores in parallel.

Cambridge-based semiconductor startup Tendrils has closed a $30 million seed financing round, equivalent to roughly €26 million, led by Benchmark, with follow-on investments from Visionaries Club, the UK Sovereign AI Fund, FR8, Antimatter, Cloudberry VC, Conviction, Embassy Ventures, and SV Angels, plus multiple angel investors. Founded in 2025, the company was established by CEO Nils Cremer and co-founders T6 and Hugo McNally. It is developing a general-purpose processor architecture that enables thousands of cores to operate in parallel. Based on the interaction network computing model, the new architecture represents programs as interconnected nodes, allowing independent operations to execute simultaneously, and aims to move beyond traditional shared mutable memory and linear instruction sequences. Tendrils is also developing an open-source programming language called Vine, whose syntax is similar to Rust, to simplify software adaptation to this parallel-first architecture. The firm noted that while GPUs have taken on large-scale numerical computing, AI agents still rely heavily on CPUs for irregular tasks such as code execution and document retrieval. Jack Altman, General Partner at Benchmark and co-founder of Lattice, will join Tendrils' board of directors.

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A crypto whale opened a large long position in NVDA and SNDK, with a total value of approximately $36.9 million.

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US stocks: Nasdaq futures pre-market gains widened to 2%

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