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Good morning. The 10-year U.S. Treasury sits at 4.704% and USD/JPY has drifted back toward 159, while gold at $4,695/oz and Bitcoin near $79,350 reflect dollar‑sensitive flows. WTI $82.44 and Brent $88.07 eased as markets downplayed new Iran sanctions. Transpacific freight remains firm — Drewry’s WCI is $4,526/40ft — and AI infrastructure financing headlines, scaled from $250bn to under $120bn, continue to shape capex and power planning.
