Aug 26 — Tariffs, yields, and Bitcoin's best month in years

• The US plans a 7.5% overcapacity levy on Chinese goods ahead of a Trump–Xi summit — a fresh tariff layer before high-stakes talks raises retaliation risk and reprices supply-chain assumptions globally. • Treasury Secretary Bessent doubled long-end buybacks to at least $4B per operation starting Sep. 10, even as the 30-year yield hit 5.31%, its highest since 2007 — a direct curve intervention drawing criticism from Stanley… • Bitcoin added 28% in August, its biggest monthly gain since November 2024, driven by record spot ETF inflows of $1.92B in a single week and a major short squeeze in futures markets.