格隆汇3月31日｜近日，广州住房公积金管理中心发布《广州住房公积金2025年年度报告》。报告显示，2025年广州公积金缴存金额达1376.48亿元，再创历史新高。至此，广州住房公积金缴存金额已连续5年破千亿元。2025年，广州公积金实缴单位18.56万家，同比增长5.15%；缴存额1376.48亿元，同比增长4.87%。全年274.84万名缴存人提取1141.26亿元，提取额同比增长0.76%。发放个人住房贷款4.49万笔，发放金额430.41亿元，同比分别增长16.19%、40.25%。作为全国试点城市，广州持续深化灵活就业人员参加公积金制度。截至2025年底，灵活就业人员累计开户11.98万人，缴存总额13.31亿元；发放灵活就业人员贷款709笔、金额2.86亿元。

Welcome back to Bloomberg’s Defense Monitor , a weekly rundown on the companies, geopolitics and finances of the future battlefield. Sign up now if you’re not already on the list. The Iran war has entered its second month, and the conflict seems to have settled into a routine: missile strikes, airstrikes and official reassurances that all is well with the oil situation . Yet all is not well with the oil situation . Brent prices are heading toward $120 a barrel, even with Iran allowing some tankers through — selling enough crude to generate more revenue than Tehran was earning before the war — and Saudi Arabia pumping 7 million barrels a day through its pipeline. The US has been kicking around the idea of using ground troops for ... something. There are only a few thousand in the Gulf region at the moment, including Marines , and that’s not enough for a wide campaign. But Kharg Island has emerged as a front-runner for operations because that’s the site of most outflows of Iran’s oil — there’s that word again. Missile strikes around the region continue to cause deaths, injuries and damage, including the destruction of a valuable US airborne warning and control plane . Iran’s attacks seem to be getting more accurate , as well, as defenses wear down and commanders plan their strikes differently, including choosing civilian targets such as oil infrastructure. The Strait of Hormuz remains closed to any traffic Iran hasn’t approved , thus choking off nearly 20% of the world’s... you know what, no. Let’s talk about something else. Nuclear weapons! The events in the Gulf, it seems, are just the latest episodes that may be pushing the world toward a nearly unprecedented era of arsenal expansion and proliferation, as you can see in the Breakout ... — Gerry Doyle Market Snapshot Boeing Co/The $189.21 -0.7% Northrop Grumman Corp $671.59 -1.1% RTX Corp $187.15 -1.3% Honeywell International Inc $223.48 +0.2% Dassault Aviation SA $319.00 +1.9% Market data as of 07:08 AM ET. Data is...

YieldMax Crypto Industry & Tech Portfolio Option Income ETF ( LFGY ) announces weekly distribution of $0.2000, -12.65% lower from the prior week's distribution of $0.2253. The annual distribution rate is 55.52%, with an SEC yield of 0.00%. The return of capital is 30.76%. Payable April 2; for shareholders of record April 1; ex-div April 1. Source: Press Release More on YieldMax® Crypto Industry & Tech Portfolio Option Income ETF BLOX Vs. LFGY: A Review As Performance Diverges From Expectations, And Bitcoin Crashes Further YieldMax® Crypto Industry & Tech Portfolio Option Income ETF declares $0.2253 dividend YieldMax® Crypto Industry & Tech Portfolio Option Income ETF declares $0.2369 dividend Seeking Alpha’s Quant Rating on YieldMax® Crypto Industry & Tech Portfolio Option Income ETF Dividend scorecard for YieldMax® Crypto Industry & Tech Portfolio Option Income ETF

Thailand move highlights growing AI investment

As missile sirens wailed over Israel earlier this month, thousands of Israelis received texts claiming to be from their military, encouraging them to download a fake shelter app, which could have stolen reams of personal data. Others received a mass text saying: “Netanyahu is dead. Death is approaching you and soon the gates of hell will open before you. Before the fire of Iranian missiles destroys you, leave Palestine.” The messages, cyber security experts say, are the most visible end of a vast war being waged in the far reaches of the Internet between Iran, Israel and the US, and their online sympathisers. Read full article Comments

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房利美股价开盘上涨11%，房地美股价上涨13%。二者昨日均大涨约50%。

微软 正进一步加大对人工智能的投入，承诺投入10亿美元在泰国建设云和人工智能基础设施，这是其更大规模全球布局的一部分。 这笔投资将用于数据中心、云服务、网络安全和主权云技术，旨在帮助企业和政府真正开始大规模应用人工智能。微软本质上是在努力缩小其所谓的“人工智能普及”差距，帮助新兴市场加快步伐，使其能够利用这些工具推动生产力和增长。 与此同时，这也是更大战略的一部分。微软不仅在泰国，而是在全球范围内向人工智能注入巨资，计划2026年在基础设施上投入高达1000亿至1200亿美元。该公司在亚洲各地还面临着来自 谷歌 和 亚马逊 等竞争对手的激烈竞争，它们同样在追逐这一机遇。 这种支出规模已开始体现在财务数据上。上个季度，Azure的同比增长率放缓至28%，该股今年迄今已下跌约25.8%，投资者正试图权衡巨额投资与短期回报之间的关系。管理层指出，芯片短缺是增长未能跟上需求的原因之一。 责任编辑：张俊 SF065

文｜邱晓芬 编辑｜苏建勋 一句话介绍 「智域基石」是一家致力于构建具身智能时代数据入口与训练输入基础设施的公司，其核心使命是将海量、杂乱的原始物理世界数据，精准编译成直接面向机器人任务成功率的高质量训练输入。 团队介绍 「智域基石」CEO杨哲轩为前PingCAP核心成员，拥有大规模分布式系统与底层架构设计的背景，也是连续创业者，负责多家公司商业化业务。 「智域基石」CTO徐良威有着腾讯、小鹏机器人的从业背景，是实战经验丰富的机器人软硬件专家，熟悉具身智能算法对于数据的需求，也有丰富硬件落地的经验。 「智域基石」COO为张计业，前华为地市总经理，曾担任具身智能公司「穹彻智能」生态负责人。 融资进展 完成数千万元天使轮融资，资方包括四家机器人厂商，包括灵初智能、穹彻智能、浙江人形、智平方（拼音序）。 产品及业务 目前，「智域基石」计划在全国建立起面积超一万平方的真机数据采集工厂，工厂中机器人数量超400台、异构硬件形态超10种。 他们预计在2026年内积累超过200PB异构数据。在今年第二季度，「智域基石」将从真机数据生产，全面拓展至 Ego-Centric（第一人称视角）领域，牢牢掌控模型的后训练与预训练的数据入口，通过数据编译层，将原始数据加工成高质量语料，可直接作为模型训练输入。 △ego centric 设备的概念图 在数据生产和加工方面，「智域基石」团队将大数据行业的技术理念和架构，引入到了具身智能领域，搭建了一套打破“废料堆砌”的自动化“数据编译管线”，主要特点包括—— ①数据质检环节：过往面对海量数据，其他类型公司往往采用传统抽检，导致高达95%的无效噪音混入训练集。而「智域基石」引入了分布式计算与弹性伸缩架构，对机器人采集的视觉、深度、关节位姿和力触觉等多模态数据进行全量质检，在源头直接剔除无效的“数据膨胀”。 ②数据底座重构（具身智能专属的异构湖仓）：真实物理世界的数据天然具有高熵、多源异构以及采样频率严重异步（如视觉30Hz与关节控制500Hz的落差）的特征，传统的简单存储极易让数据沦为无法训练的“多模态黑盒”。 为此，「智域基石」率先将成熟的数据湖仓（ Data Lakehouse ）架构引入并深度改造为具身智能专属底座。该架构不仅实现了对超大规模非结构化数据的统一纳管，更依托自研的数据引擎，在底层完成了视觉、深度、力触觉与关节位姿等复杂维度在毫秒...

Deliveries edge higher, but valuation resets

当地时间3月31日，美国国防部长赫格塞思与美军参谋长联席会议主席丹·凯恩就针对伊朗的军事行动举行新闻发布会。丹·凯恩表示，过去30天里，联合作战部队已对超过11000个目标实施了打击。他们已成功启动了首批针对内陆纵深区域的B-52轰炸机作战任务。此外，凯恩表示，他们的打击重心正逐步向“动态目标”转移，即针对作战区域内不断移动的目标实施即时打击。凯恩还称，联合作战部队持续针对伊朗的导弹、无人机及海军装备生产设施开展打击行动。美国中央司令部持续识别并打击伊朗的海军仓库及储存设施，美国摧毁了超过150艘舰船，其中包括其海军序列中所有的“贾马兰”级护卫舰。美国正持续大规模地开展针对伊朗国防工业基础的打击行动。打击目标涵盖工厂、仓库、核武器研发实验室，以及伊朗重建其作战能力所必需的相关基础设施。（央视新闻）

格隆汇3月31日｜据央视，当地时间3月31日，伊拉克民航局发表声明称，基于对当前地区安全形势的持续评估，伊拉克领空对所有进出港及过境飞机的管控措施将继续延长72小时至4月3日中午。伊拉克本轮领空关闭措施是在美国和以色列于2月28日对伊朗发动联合军事打击后实施的。伊朗随后对以色列及美国在中东地区的目标实施导弹和无人机打击，地区局势骤然升温。

After successfully conquering the smartphone and PC market, Apple must now prove that it can innovate for the AI era.

格隆汇3月31日｜房利美美股开盘跳涨11%，房地美上涨13%。

A SpaceX IPO could mean greater attention on the company's long-overlooked competitors.

The Treasury market has been rendered structurally unstable by its explosive growth and is likely to require occasional “official interventions” to support its functioning, according to strategists at Barclays. The $31 trillion US government debt market “has grown far faster than the quantum of bank capital,” creating a gap between the supply and demand for liquidity that reverses a decades-long trend and is “the underlying force driving market fragility,” according to a March 30 report by New York University finance professor Jeffrey Meli and several of his former colleagues at Barclays. The Treasury market has grown at a rate of nearly 9% since 2009, faster than over the previous two decades. Bank capital, meanwhile, expanded by an average of 3.8% a year since 2019, less than half its rate over the preceding period, according to the report co-authored by Barclays strategists Samuel Earl , Anshul Pradhan and Amrut Nashikkar . The bank capital calculation uses quarterly Federal Deposit Insurance Corp. data. “This imbalance increases the need for official interventions to stabilize markets during periods of volatility,” the team wrote. The result is “a vicious cycle: expectations of intervention can become self-reinforcing if they result in greater use of leverage and, thus, more risk of disorderly unwinds.” Meli left Barclays for academia last year and remains a consultant to the bank. Official interventions in the Treasury market have become a common feature of the landscape since the 2008 financial crisis, taking the form of large-scale buying of securities by the Federal Reserve. The largest of those followed the onset of Covid in 2020, when Fed buying of Treasuries to meet a sudden demand for cash in the financial system caused its holdings to balloon to nearly $5 trillion in 2022 from around $2 trillion in early 2020. The Treasury market’s growth is a function of the size of federal budget deficits requiring financing. The slowdown in bank capital growth, the r...

Key PointsSpaceX, long privately held, could soon go public via an IPO.

Negative Equity Leaves 30% Of Car-Buyers Underwater On Trade‑Ins Authored by Andrew Moran via The Epoch Times, Almost one-third of American car buyers with a trade-in owe more than the vehicle is worth, new industry data show. About 30.5 percent of buyers trading in a car toward a new vehicle maintained negative equity, according to a JD Power report released on March 26. This is up 4.2 percentage points from a year ago and has been steadily rising since 2022, “as consumers who purchased during the peak of inventory shortages 4 years ago return to market,” says Thomas King, president of OEM solutions at JD Power. “Regarding total consumer spending on new vehicles, the elevated transaction prices in March aren’t enough to offset the inflated sales pace a year ago,” King said. “Consumers are on track to spend $49.4 billion on new vehicles this month, 13.9 percent lower than a year ago.” Growing auto debt has become a significant challenge in the current car climate, with many motorists enduring the consequences of their pandemic-era financial decisions. Edmunds, a subsidiary of CarMax, reported in January that the average amount owed on underwater trade-ins during the fourth quarter was a record $7,214. Additionally, 27 percent carried $10,000 or more in negative equity—also an all-time high. If a buyer trades in a vehicle with negative equity, the remaining balance is typically folded into the financing for their next car. That rollover effect, according to Edmunds data, has pushed the average monthly payment for these borrowers to an all‑time high of $916. Many underwater trade-ins can be traced back to pandemic‑era loans. At the time, chip shortages slashed inventories and wiped out incentives. Buyers paid close to or above the Manufacturer’s Suggested Retail Price (MSRP)—the sticker price automakers recommend a dealer charge for a new car—and had limited ability to choose cheaper models. Since leasing was limited, many drivers opted to purchase these vehicles with...

YieldMax AI & Tech Portfolio Option Income ETF ( GPTY ) announces weekly distribution of $0.2700, 0.00% lower from the prior week's distribution of $0.4026. The annual distribution rate is 0.00%, with an SEC yield of 25.89%. The return of capital is 4.11%. Payable April 2; for shareholders of record April 1; ex-div April 1. Source: Press Release More on YieldMax® AI & Tech Portfolio Option Income ETF Over 425 ETFs are in focus as IBM pops, but these 10 funds have the largest allocations Intel pops on Trump praise and these 10 ETFs are taking notice Seeking Alpha’s Quant Rating on YieldMax® AI & Tech Portfolio Option Income ETF Dividend scorecard for YieldMax® AI & Tech Portfolio Option Income ETF

TSMC Starts 2 Nanometer Era As AI Demand Reframes Valuation simplywall.st

Micron’s HBM4 Win With Nvidia Sharpens AI Memory Demand Visibility simplywall.st

Wall Street Tells Investors Its Less Excited About Micron Stock AOL.com

Nearly 6.5 million people are expected to pass through Hong Kong’s border control points during the coming Easter and Ching Ming Festival holiday, the Immigration Department has said. The department estimated that 6.44 million Hong Kong residents and visitors would pass through air, land and sea control points between Friday and Tuesday. About 5.43 million trips were expected to be made via land boundary control points linking Hong Kong and Shenzhen. The number of outbound and inbound trips...

格隆汇3月31日｜沃伦・巴菲特表示，他苹果股票卖得太早，未来仍愿意增持，只是不会在当前市场环境下买入。 “我卖得太早了。但我当初买得更早，所以也就这样了。”巴菲特周二在采访时表示。他在采访中同时宣布重启著名的慈善午餐活动。 据金融数据分析公司Insider Score显示，即便伯克希尔・哈撒韦在去年年底将苹果持仓减持至619.6亿美元，苹果依然是伯克希尔第一大重仓股。 不过，巴菲特周二表示，如果苹果股价更便宜，他会继续加仓。他称，尽管苹果股价从近期高点下跌超14%，本月跌幅超6%，但目前吸引力依然不足。

北京时间3月31日晚，美股周二高开。投资者正在评估针对伊朗的军事行动可能在四至六周内结束的可能性，此前有报道称特朗普正在寻求结束对伊战争。 道指涨541.54点，涨幅为1.20%，报45757.68点；纳指涨274.01点，涨幅为1.32%，报21068.65点；标普500指数涨70.16点，涨幅为1.11%，报6413.88点。 据报道，美国总统特朗普正考虑在四至六周内结束军事行动。该报道称，特朗普的战略重点在于削弱伊朗的海军和导弹能力。 特朗普发表上述言论后，美国国债收益率全线小幅走低。10年期国债收益率降至4.32%，2年期国债收益率降至3.82%。 该报道称，特朗普总统已告诉助手，即使霍尔木兹海峡在很大程度上仍处于关闭状态，他也愿意结束中东地区的军事敌对行动。 自冲突爆发以来一直承压的科技板块普遍上涨。科技板块精选SPDR基金上涨0.6%。英伟达上涨1%， 微软 上涨近2%。 不过，原油价格仍保持高位，此前另一家媒体报道称，伊朗在迪拜水域袭击了一艘科威特油轮。迪拜政府媒体办公室在X平台上发布消息称，无人员受伤报告，且“所有24名船员均已确认安全”。 布伦特原油期货上涨4%，交易于每桶117美元上方；西德克萨斯中质原油期货上涨近1%，至每桶103美元上方。 华尔街此前一个交易日涨跌不一。标普500指数和 纳斯达克 指数下跌，而 道琼斯 指数小幅收涨。 标普500指数周一的下跌使其较收盘高点仅高出9%以上，跌幅由科技板块（下跌超1%）主导。但B． Riley Wealth Management首席市场策略师阿特·霍根表示，近期的回调可能反映的是正常的市场调整，而非异常情况。 他表示：“目前存在几种说法，但我认为长期投资者应记住，10%的回调是正常的。这种情况时有发生。平均每两年我们就会经历一次10%的回调，投资者还需理解，股市的波动是为获得更高的长期回报所付出的代价。” “当出现一丝利好消息时，我们也会迎来一些上涨的日子，”他补充道。 周二为本月最后一个交易日。标普500指数3月迄今已下跌7.8%。如果这一跌幅维持至收盘，将是该基准指数自2022年9月（当时暴跌9.3%）以来最差的月度表现。 责任编辑：张俊 SF065

YieldMax Dorsey Wright Hybrid 5 Income ETF ( FIVY ) announces weekly distribution of $0.1700, 54.64% lower from the prior week's distribution of $0.2097. The annual distribution rate is 13.85%, with an SEC yield of 16.10%. The return of capital is 5.29%. Payable April 2; for shareholders of record April 1; ex-div April 1. Source: Press Release More on YieldMax® Dorsey Wright Hybrid 5 Income ETF Seeking Alpha’s Quant Rating on YieldMax® Dorsey Wright Hybrid 5 Income ETF Dividend scorecard for YieldMax® Dorsey Wright Hybrid 5 Income ETF

格隆汇3月31日｜据蓝鲸，从雅迪经销商处确认，雅迪决定自2026年4月1日零时起，对全品类产品出厂价格统一调整，单台上调幅度300元以上。具体车型调价明细以公司于2026年4月1日正式下发的《产品价格执行表》为准。雅迪在相关调价函中称，主要大宗原材料价格持续大幅上涨，其中铝、铜、铁等金属材料涨幅超过40%，塑料粒子等化工原料涨幅高达80%以上。面对前所未有的成本压力，其始终秉持“客户为先”的经营理念，在2026年第一季度主动承担经营负担，全力消化成本上涨因素，未对产品价格做出调整。

美国联邦住房金融局（FHFA）报告显示，1月房价环比上涨0.1%。 根据对12位经济学家的调查，预测范围为0%至上涨0.5%。 1月房价同比上涨1.6%。 责任编辑：刘明亮

Sometimes, things are a little too obvious. CoreWeave's growth jumps out, but comes with a serious catch.

Key PointsSoaring data center spending has made CoreWeave one of the fastest-growing companies.