Sep 2 — US strikes Iran, debt hits $40T, AI capex surge

• The US military launched strikes on Iranian Revolutionary Guard targets — a direct attack on Iran raises the risk of a wider regional war and an oil supply shock with immediate macro consequences. • Global sovereign bond yields hit a 17-year high at 3.72% as US public debt crosses $40 trillion with the 30-year yield above 5% for 55 straight days — tightening financial conditions worldwide. • Dell raised its annual sales forecast by $25 billion on AI server demand, and Nvidia committed $3.5 billion to MediaTek in its largest overseas deal — confirming the AI capex cycle is still accelerating.