Analysis: Wall Street and the crypto industry are accelerating their competition for the same financial market.

Bloomberg columnist John Authers says the "tectonic plates" of the global economy are shifting, with long-term government bond yields in major economies rising to multi-decade highs. Japan’s 10-year government bond yield has hit a 30-plus year high, while government borrowing costs in major markets like the U.S. have also climbed to levels not seen since before the global financial crisis. However, the current rise in bond yields has not yet significantly impacted stock markets or the real economy, with the Nasdaq 100 index hitting a new all-time high this week. The article attributes the recent sharp volatility in the bond market more to recent economic data that has consistently come in stronger than expected, and to Federal Reserve Chair Walsh adopting a more hawkish policy stance than markets had previously anticipated. Markets currently expect the U.S. overnight rate to reach 4.75% in a year, compared to a prior forecast of a drop to 3% before the outbreak of the Iran war. Authers notes that if the 10-year U.S. Treasury yield holds around 5%, the higher risk-free rate will make bonds more attractive relative to stocks and benefit the management of long-term funds such as pensions. However, if yields continue to rise rapidly, it could also exacerbate fiscal pressures and impact non-bank financial institutions and highly leveraged enterprises.

According to Bitget’s market data, Brent crude oil has slumped 4.00% intraday, currently trading at $96.71 per barrel. Against this backdrop, Al Jazeera reported that US-Iran negotiations have entered the technical consultation phase.

According to Al Jazeera, negotiations between the United States and Iran in New York have advanced beyond initial diplomatic contacts to deeper technical consultations. Nourredine Degehel, Al Jazeera’s Tehran bureau chief, stated that technical experts joined follow-up discussions after U.S. envoys Steve Witkoff and Jared Kushner wrapped up their first round of talks. The Iranian delegation initially failed to secure U.S. government visas but was later granted entry to take part in the negotiations. Qatar has served as the ongoing mediator between Washington and Tehran for several months. Iran is pushing a "7-day plan": if the U.S. lifts its blockade on Iran, Tehran will reopen the Strait of Hormuz. The plan is viewed as an accelerated version of the previously discussed 60-day negotiation process, aimed at pushing both sides to return to direct talks on Iran’s nuclear issue. Current core discussion topics include sanctions relief, relaxed oil export restrictions, unfreezing Iranian assets, and future management arrangements for the Strait of Hormuz—such as whether Iran and Oman can restore a joint management framework under the participation of the U.S. and regional countries, as well as rules governing U.S. warship passage. Degehel added that while differences persist between the two sides, sources in Tehran believe the negotiations are making tangible progress, the talks are ongoing, and Qatar is working to narrow the gap between the two parties. (Jinshi)

Japanese Finance Minister Satsuki Katayama said today that during this week’s meeting between US President Donald Trump and Japanese Prime Minister Sanae Takaichi, Trump voiced concern over the yen’s depreciation, with Takaichi responding that the yen’s undervaluation is a problem. Katayama added that Japan will continue to maintain close communication with US Treasury Secretary Scott Bessent on a range of issues including foreign exchange. After these remarks, the yen rose 1.1% at one point, with USD/JPY slipping to around 156.98. Katayama also noted that specific monetary policy tools are determined by the Bank of Japan, emphasizing that the BOJ should implement appropriate monetary policy while keeping communication with the government. She further stated that the Japanese government will not hesitate to take bold actions. Market analysts believe that the relevant statements so far are mainly verbal policy signals, and the Japan-US interest rate differential and the Federal Reserve’s interest rate path remain key factors influencing the yen’s trend.

Microsoft co-founder Bill Gates has warned that artificial intelligence (AI) is "powerful enough" to help cause a significant number of human deaths, joining a growing group of tech industry leaders and practitioners in calling attention to AI’s potential existential risks. In an excerpt from a media interview set to air this weekend, Gates said: "AI is certainly powerful enough to drive events that could, for example, cause a billion deaths. There has never been a weapon in history as powerful as what malicious actors could do with the latest AI tools."

According to a report from The Information, Anthropic is seeking shareholder approval for a special equity structure, proposing to grant a combined 50.1% voting power to CEO Dario Amodei and six other co-founders to ensure the founding team retains control after the company goes public. The arrangement requires at least three founders to hold a minimum stake in the company. Each of Anthropic’s seven founders currently holds around 2% of the shares; the new equity structure does not confer additional economic benefits, only increasing voting rights. Meanwhile, Anthropic’s Long-Term Benefit Trust will still be responsible for electing the majority of board members, with founder board seats rising from two to three. Employees will also receive shares that can break tied votes on certain matters. Anthropic was valued at $96.5 billion in May this year, and its recent secondary market valuation has climbed to approximately $1.5 trillion. The proposed IPO is expected to reference this latest valuation.