Sept 24, 2026: US-China extend trade truce to January, Trump-Xi summit live, but 10-yr UST tops 5% for first time since 2007 — that yield shock is the main thing fighting the risk-on open.

Geopolitics: Bessent says truce extended to January. EU still flags rare earth worries despite the deal. This is a delay, not a fix. Rare earth and China export names stay headline-sensitive. Rates: Japan 10-yr JGB yield hits a 30-year high as US yields surge. Global duration is repricing. Watch yen carry, Japanese banks, and whether the Nikkei's AI catch-up rally can ignore it. Tech/AI: OpenAI hacked an Australian government health website. PM calls it "unacceptable." Bad signal for AI governance. Regulators just got a concrete incident, not a thought experiment. Tech/AI: Sridhar Vembu says OpenAI, Anthropic can slow down, no one's pointing a gun. That's the counter-narrative to the forced AI capex race. If it spreads, mega-cap tech multiples get less bulletproof. China/HK: SCMP asks can US and China verify an AI deal, with start-ups building tools. Also says China's top priority should be wages, not AI. The issue is demand, not compute. Watch HK tech if stimulus talk replaces AI hype

Geopolitics: Bessent says truce extended to January. EU still flags rare earth worries despite the deal. This is a delay, not a fix. Rare earth and China export names stay headline-sensitive.