Global sovereign bond markets are going through one of their sharpest selloffs in decades, with long-dated yields rising under pressure from inflation concerns, fiscal expansion and a structural decline in demand from traditional buyers. In the U.S., the 30-year Treasury yield touched 5.33% this week, its highest level since 2007, while comparable yields in France, Germany, the U.K. and Japan also climbed to multi-year highs. According to figures cited by Wallstreetcn and Bloomberg-compiled data, the average yield on a benchmark basket of investment-grade sovereign debt has risen to about 4.5%, the highest since records began in 2015. The report says the move is being driven less by a jump in inflation expectations and more by higher real yields, as investors demand more compensation to hold long-duration debt. On the supply side, heavier issuance by governments and even tech companies is adding pressure, while on the demand side, pensions and other traditional long-bond buyers are becoming less dominant. Strategists and asset managers remain divided on whether the repricing now offers value or whether yields may need to rise further before returns on long-duration bonds become more attractive.

A TechFlowPost feature traces the history of offshore dollars from the birth of the eurodollar market to the rise of stablecoins and self-custody wallets, arguing that the core question has never gone away: who actually owes you $1? The article says the dollar has moved through several institutional containers over the past seven decades, from New York bank ledgers and London bank balance sheets to fintech databases and the reserve structures behind stablecoin issuers. At the same time, the relationship between users and their accounts has also shifted, moving from full institutional custody toward direct user control over onchain assets. The piece links three historic fault lines in the offshore dollar system to three forms of power: settlement, last-resort liquidity, and pricing. It points to the 1974 Herstatt failure, the 2008 global dollar shortage, and the eventual shutdown of the U.S. dollar LIBOR panel in June 2023. It then places Revolut, Wise, stablecoins, and Bitget Wallet along the same continuum. In that framing, stablecoins did not invent a new dollar. They separated redemption from transfer, keeping reserves in traditional finance while moving transfer onto public blockchains. Self-custody wallets, meanwhile, did not replace the issuer’s redemption promise, but changed who controls the movement of assets. The article argues that this is where the latest shift in dollar infrastructure becomes most visible.

Foresight has published a long-form essay by Bitget Wallet researcher Lacie Zhang tracing a 70-year line from the birth of the eurodollar market to today’s stablecoins and self-custody wallets. The piece argues that stablecoins are not a clean break from the past. Instead, they represent a new stage in the offshore expansion of the U.S. dollar, one that changes how dollar claims move rather than eliminating the traditional financial system behind redemption. Zhang revisits how Soviet and Eastern European entities moved dollars into banks in Paris and London to avoid the risk of account freezes in the United States, how post-Suez British policy helped turn those deposits into a lending market, and how U.S. regulation and later petrodollar flows helped that market grow from millions to trillions of dollars. The essay then uses the 1974 Herstatt collapse, the 2008 dollar funding squeeze, and the fall of LIBOR to show that offshore banks gained the ability to expand dollar credit but never captured final control over clearing, emergency liquidity, or pricing. The article closes by contrasting fintech apps, stablecoins, and self-custody wallets. In Zhang’s framing, stablecoins move dollar balances onto public blockchains while leaving redemption anchored to U.S. Treasuries, bank deposits, and legal claims. Self-custody wallets change something else: who controls the movement of assets.

U.S. equities ended higher after softer inflation data helped push the S&P 500 to another record close, with the Nasdaq and Dow also advancing. July producer prices cooled to 4.7% year over year from 5.5% in June, while the market lifted the odds of the Federal Reserve holding rates steady in September to around 65%. Even so, the long end of the Treasury market sent a different signal: the 30-year bond auction cleared at 5.216%, the highest since 2001, and indirect bidding weakened, pointing to growing concern over fiscal supply and term premium. Sector leadership was narrow. SanDisk surged after issuing aggressive long-term targets at its 2026 investor day, lifting Western Digital, SK Hynix, Seagate, Micron and the Roundhill storage ETF. Workday also jumped on a Reuters report that Silver Lake had held acquisition talks for months. In contrast, optical networking names and parts of the AI hardware trade reversed lower, while Cisco fell despite record quarterly revenue as investors focused on margin concerns. Oil prices retreated after both the IEA and OPEC lowered demand expectations, and Donald Trump signed a proclamation imposing 10% to 100% tariffs on imported drones and related parts on national security grounds.

Advanced Micro Devices said it plans to issue up to $5 billion in senior unsecured notes, a deal that would rank as the company’s largest U.S. dollar bond sale on record. The offering is split across four maturities ranging from three to 10 years, with final size dependent on investor demand. AMD said the proceeds will be used for general corporate purposes, including debt repayment, as $875 million of its bonds come due next month. As of June 27, 2026, AMD held about $5.09 billion in cash and cash equivalents and $8.03 billion in short-term investments. The transaction is being underwritten by Barclays, BofA Securities, Citigroup, J.P. Morgan, Morgan Stanley, and Wells Fargo. ABMedia said the fundraising is tied to AMD’s broader AI expansion. The company has recently worked with Anthropic and Microsoft, and has committed up to $5 billion to Anthropic to support and optimize Claude model performance on AMD hardware. AMD is also targeting more than 50% share of the $220 billion server CPU market by 2030, while accelerating Helios AI rack deployment, expanding its Venice server CPU line, and upgrading the ROCm software platform. The company added that supply chain capacity remains its main operating constraint and said it is working with TSMC and other partners to secure more advanced-node output.

The U.S. Treasury’s long-end funding costs moved closer to levels rarely seen this century after back-to-back note and bond auctions reset multi-year highs. On Thursday, the Treasury sold $25 billion of 30-year bonds at a high yield of 5.216%, the highest since 2001, with a 0.4 basis-point tail versus the pre-sale yield. One day earlier, a $42 billion sale of 10-year notes cleared at 4.683%, the highest since the 2007 global financial crisis. Headline demand in the 30-year auction did not collapse. The bid-to-cover ratio came in at 2.39, above the 2.36 average of the previous six comparable sales. But the buyer mix shifted. Indirect bidders, a group that includes foreign central banks and other overseas institutions, took 66.8%, down from July’s 77.7% and below the 67.0% six-auction average. Primary dealers were left with 11.5%, up 150 basis points from July and above the recent 10.6% average. Market attention has increasingly moved away from near-term Federal Reserve pricing and toward fiscal deficits, rising Treasury supply and higher term premium. Fitch kept the U.S. sovereign rating at AA+ with a stable outlook, while warning that the fiscal deficit relative to the economy could widen further by 2026. So far this fiscal year, U.S. interest costs have reached $1.17 trillion, up 15% year over year.

Bitwise Asset Management has cut roughly 14% of its workforce, reducing headcount from around 180 to about 155, the San Francisco-based firm confirmed to Bloomberg. CEO Hunter Horsley said the reduction should be viewed over a longer timeline, adding that even after the layoffs, Bitwise still has the largest staff in its eight-year history and expects to keep growing as crypto becomes more embedded in the broader economy. The move comes as the U.S. spot Bitcoin ETF market grows more concentrated. According to SoSoValue, the category now holds about $77.5 billion in net assets, with BlackRock’s IBIT at roughly $47.3 billion and Fidelity’s FBTC at $10.9 billion. Bitwise’s fund stands at about $2.3 billion, less than 3% of the total. The cuts also fit into a broader pattern across crypto, where firms including Coinbase and FalconX have recently reduced staff, while BitMEX and BitMart have chosen to wind down operations entirely. Even so, Bitwise executives have continued to make a bullish case for crypto.

Bitcoin Asia 2026 is scheduled for Aug. 27-28 at the Hong Kong Convention and Exhibition Centre, with Metaplanet as host and BTC Inc. as organizer. According to the announcement, the event expects more than 10,000 attendees from over 125 countries and will run a dedicated business track alongside the main summit. That track includes Deal Day, an institutional area on the show floor, and the Bitcoin for Corporations Symposium. Deal Day is described as an invite-only program focused on pre-arranged 30-minute one-on-one meetings between Bitcoin companies, banks, funds and research analysts. BTC Inc. said the format builds on a previous Deal Day held during Bitcoin 2026 in Las Vegas, where 23 exhibiting companies and 23 investment partners took part in more than 200 structured meetings. The announcement also positions Hong Kong as a suitable venue because of its virtual asset licensing framework, approval of Bitcoin ETFs, and stated openness to institutional digital asset business. A GA+ business pass priced at $197 will provide access to the networking zone, in-app meeting booking, selected networking opportunities and priority main-stage seating, while access to the Bitcoin for Corporations Symposium requires a business or Whale pass plus an invitation. Deal Day requires a separate application and credentialing process.