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  U.S. Bond Sell-Off Intensifies as 10-Year Treasury Yield Nears 5%

  U.S. Treasury bonds have come under renewed selling pressure as investors reassess inflation, fiscal risks and the outlook for interest rates. The 10-year Treasury yield climbed to 4.81%, approaching the closely watched 5% threshold. Analysts warn that a further rise could add to volatility in an already unsettled stock market.The latest pressure on U.S. bonds is closely tied to rising energy prices. The conflict in the Middle East has pushed oil prices higher, reviving concerns that inflation could accelerate. Higher energy costs could make it more difficult for the Federal Reserve to ease monetary policy, while investors are increasingly demanding higher returns to hold longer-term government debt.The rise in Treasury yields also means higher borrowing costs across the economy. Mortgage rates and other consumer financing costs could come under pressure, while the U.S. government would face greater expense when refinancing and issuing new debt. The 30-year Treasury yield has also moved close to a 19-year high, highlighting the strain in the long-term bond market.Another source of pressure is the growing supply of corporate debt. Major technology companies are issuing bonds to finance investments tied to the artificial intelligence boom, adding competition for investors' money. Meanwhile, the 2-year Treasury yield rose to 4.41%, its highest level since January 2025, as traders increased bets on another U.S. rate hike. The combination of inflation concerns, heavy borrowing and rising yields suggests the U.S. bond market may remain volatile.

  2026-09-06 09:00
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  • 菲律賓國旗

  SpaceX Nears $2 Trillion Valuation as Musk Succession Risk Draws Investor Attention

  SpaceX's valuation surged to nearly $2 trillion following its June initial public offering, putting greater attention on the company's dependence on Chief Executive Elon Musk. Alongside its ambitions in rockets, satellites and artificial intelligence, investors now face another issue that is harder to measure: what would happen to SpaceX if Musk were no longer able to lead the company. SpaceX acknowledged in its IPO filing that his death, disability or departure could significantly disrupt its management structure and operations.Key-person risk is not a new concern for Musk's businesses. Tesla shareholders have previously questioned the company's reliance on its chief executive, and the issue has become more significant as SpaceX has entered the public markets. The company has also gained a faster route into major stock indexes, potentially increasing its presence in index funds and exposing more passive investors to the performance of a company whose valuation is closely associated with Musk's leadership.SpaceX's governance structure adds another layer to the succession question. Musk controls about 48% of the company through different classes of shares, including super-voting Class B stock, giving him substantial control over the board. In its IPO filing, SpaceX said it is highly dependent on Musk's continued service and performance, describing his leadership, vision and expertise as critical to its technology development and business strategy. The filing does not appear to provide a formal succession plan, a point that corporate governance experts view as important in managing key-person risk.The issue is particularly relevant because investors have placed significant expectations on Musk's long-term vision for SpaceX. The company is pursuing ambitious projects that include orbital data centers and the goal of making human life multi-planetary. Some analysts argue that part of SpaceX's valuation reflects a premium attached to Musk himself and his ability to pursue those plans. For investors, the longer-term challenge may therefore extend beyond whether SpaceX can execute its ambitious projects to whether it can maintain its strategy and value if its most influential leader is no longer at the helm.

  2026-09-07 09:00
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  • 菲律賓國旗

  Philippine Court Issues Arrest Warrant for Vice President Sara Duterte

  The criminal case against Philippine Vice President Sara Duterte over alleged threats to assassinate President Ferdinand Marcos took a significant step forward on September 4, when a Quezon City court issued an arrest warrant against her. Branch 98 of the Quezon City Regional Trial Court found probable cause to proceed with a trial on three counts of grave threats and set bail at 120,000 pesos for each charge. Duterte's lawyer said she had no intention of evading the legal process and would continue to pursue all available legal remedies.The charges stem from remarks Duterte made during an online press conference in November 2024. She said that if she were killed, she had arranged for someone to assassinate Marcos, the First Lady and her cousin Martin Romualdez, who was then speaker of the Philippine House of Representatives. Duterte later rejected the characterization of her comments as a threat, saying they had been taken out of context. The Philippine Department of Justice nevertheless filed three grave-threat charges against her in August.Duterte had previously challenged the case on jurisdictional grounds and sought to have the charges dismissed and the arrest warrant deferred or recalled. The Quezon City court heard arguments on her motion in late August before rejecting her request on September 4. The alleged threats are also included in the impeachment case being heard by the Philippine Senate. A conviction in the impeachment proceedings could remove Duterte from office and permanently bar her from holding public office.The Department of Justice said the arrest warrant would now proceed through the normal enforcement process. Duterte's lawyers have received the warrant and are preparing to post bail. The three grave-threat charges are bailable, with bail set at 120,000 pesos per count. Duterte's legal counsel reiterated that she would continue to use the remedies available under Philippine law while facing the case.

  2026-09-07 09:00