Government Policy & Funding - The Trump administration is considering reallocating at least $2 billion from the CHIPS Act to fund critical minerals projects [1] - The proposed move aims to reduce US reliance on China for critical minerals [1] Strategic Implications - The reallocation seeks to bolster the Commerce Secretary's influence in strategic areas [1] - The initiative avoids new spending requests by drawing from already allocated funds for semiconductor research and chip factory construction [1]

Monetary Policy Outlook - Three Federal Reserve officials dampened expectations for a September interest rate cut [1] - The officials cited insufficient data to support a rate cut and concerns about the impact on inflation expectations [1] - Atlanta Fed President Bostic still anticipates only one rate cut this year [1] Economic Assessment - The economy is in a transitional period [1]

Funding & Investment - A new RMB 500 billion (approximately USD 69 billion) policy-driven financial tool is being launched [1] - The tool will focus on strategic sectors including emerging industries and infrastructure [1] - Key investment areas include digital economy, artificial intelligence, low-altitude economy, consumption, green and low-carbon initiatives, agriculture and rural areas, transportation and logistics, and urban infrastructure [1] Regional Activity - Multiple regions have been holding policy seminars and project preparation meetings related to the new policy-driven financial tools since May [1] - Some local governments are compiling project lists and specifying the amounts of funds to be applied for [1]

Market Overview - Oaktree Capital's Howard Marks warns that the US stock market is in the "early stages" of a bubble [1] - A mean reversion is highly probable, with some tech stocks being "quite highly valued" relative to history [1] Investment Strategy - The US remains the best place to invest globally, despite a "slight deterioration" in the basic investment environment [1] - The US is like "an expensive good car" and is still suitable for defensive investment [1]

DeepSeek在其官宣发布DeepSeek-V3.1的文章中提到，DeepSeek-V3.1使用了UE8M0 FP8 Scale的参数精度。另外，V3.1对分词器及chat template进行了较大调整，与DeepSeek-V3存在明显差异。DeepSeekg官方在置顶留言里表示，UE8M0 FP8是针对即将发布的下一代国产芯片设计。 https://t.co/ydxMxF53VL外汇交易员 (@myfxtrader):DeepSeek刚刚官宣V3.1模型。模型同时支持思考模式与非思考模式；思考效率提升，相比DeepSeek-R1-0528，DeepSeek-V3.1-Think能在更短时间内给出答案；Agent能力更强，通过Post-Training优化，新模型在工具使用与智能体任务中的表现有较大提升。 https://t.co/ajVjLgC4ri ...

瑞银：目前“关税不会引发通胀”的结论为时过早 https://t.co/UkGx9ec0niNone (@None):None ...

中指研究院：截至2025年8月，20家出险房企债务重组、重整获批，化债总规模超过12000亿元人民币。截至8月共计77家房企发生债务违约，2022年至今有27家上市房企被动退市，其中A股14家。多家上市企业退出房地产业务或转型轻资产。截至8月20日，沪深上市房企中71家发布半年度业绩预告，其中45家亏损，占比63.4%，相比去年同期上升了1.1个百分点。 ...

#数据 国家能源局：7月份，全社会用电量10226亿千瓦时，同比增长8.6%。第一产业用电量170亿千瓦时，同比增长20.2%；第二产业用电量5936亿千瓦时，同比增长4.7%；第三产业用电量2081亿千瓦时，同比增长10.7%；城乡居民生活用电量2039亿千瓦时，同比增长18.0%。外汇交易员 (@myfxtrader):#数据 国家能源局：6月份，全社会用电量8670亿千瓦时，同比增长5.4%。第一产业用电量133亿千瓦时，同比增长4.9%；第二产业用电量5488亿千瓦时，同比增长3.2%；第三产业用电量1758亿千瓦时，同比增长9.0%；城乡居民生活用电量1291亿千瓦时，同比增长10.8%。 ...

根据DeepSeek最新发布的V3.1 API定价，输入/输出价格从V3的2元和8元/百万 token分别上调至4元和12元/百万 token，同时取消夜间时段优惠。调整将在9月6日起生效。 https://t.co/BvDHFZKQms外汇交易员 (@myfxtrader):DeepSeek刚刚官宣V3.1模型。模型同时支持思考模式与非思考模式；思考效率提升，相比DeepSeek-R1-0528，DeepSeek-V3.1-Think能在更短时间内给出答案；Agent能力更强，通过Post-Training优化，新模型在工具使用与智能体任务中的表现有较大提升。 https://t.co/ajVjLgC4ri ...

Product Update - DeepSeek's official WeChat account introduced V3.1 [1]