Apple Trains Custom AI Model For China With Alibaba's Help

Treasury Refunding: No Changes To Auction Sizes; Bessent Keeps "At Least" In Forward Guidance In our preview to this morning's Quarterly Refunding Statement, we said that we do not expect major changes and that, at most, the treasury might adjust its statement language to soften the forward guidance on possibly futures increase in coupon auction sizes with one likely change would be dropping “at least” while retaining the expectation for unchanged coupon sizes over “the next several quarters” (recall Deutsche Bank said it expects nominal coupon increases beginning in February 2027).  Overnight, JPMorgan agreed,...

Trump To Unveil Anduril Deal, Bringing Submarine Parts Factory To Baltimore Bethlehem Steel's Sparrows Point complex near crime-ridden Baltimore City was once the largest steelmaking facility in the US and viewed by some as once the world's largest steel mill. Decades of deindustrialization led to the mill's closure in 2012. By 2014, the 3,300-acre site entered a redevelopment phase and was transformed into a giant logistics and industrial complex under new ownership called Tradepoint Atlantic.  Tradepoint Atlantic is set to enter a new chapter, with Anduril Industries having won a $2.9 billion...