Why did U.S. Treasury yields rise and the dollar strengthen despite only a modest uptick in July PCE inflation?

U.S. Treasury yields rose 1–3 bps and the dollar strengthened +0.3% — its biggest rise in two weeks — because the July PCE inflation data came in 'slightly hotter than expected' with a 0.2% month-on-month headline increase (above the 0.1% forecast) and an annual rate edging up to 3.7%, confirming that 'inflation is sticky'; although rate hike expectations barely budged — traders still priced in a 60–40 probability of a hike next month — the data reinforced concerns that the Fed may act, especially ahead of Chair Kevin Warsh’s Jackson Hole address on Friday.

What does Nvidia’s Q3 revenue outlook reveal about U.S. AI chip exports to China?

Nvidia’s Q3 revenue outlook — which 'beat analyst consensus' — explicitly 'does not include any data center chip sales from China', indicating that U.S. export restrictions are materially affecting its largest potential market for advanced AI chips, even as the company reports strong overall results and remains the 'world's most valuable company'.