PBOC sets USD/CNY reference rate at 6.8109 vs. 6.8150 previous

Synopsys has signed a multi-year legally binding agreement with OpenAI to jointly develop GPT-Synopsys, a model specifically trained and fine-tuned for chip design tasks. OpenAI will pay Synopsys a subscription fee for tool licensing, and both parties will share revenue based on improvements in chip design achieved by customers using the product.

After the lower-than-expected US August PCE data was released, Goldman Sachs delayed its expectation for the Federal Reserve's second rate hike from October to December, and stated that it does not rule out the possibility that the Fed may eventually decide no further hikes are necessary. "New Fed Newsletter" Timiraos noted that the PCE does not change the previously known trend of rising inflation. Currently, the market prices in a 39% probability of a rate hike in October, down from 45% before the PCE release; and a 90% probability in December. The yield on 2-year US Treasury notes dipped slightly after the PCE announcement and then rebounded, while the 10-year yield continued to rise.