🌙 Summary of Nighttime Events 00:45 🇳🇿 New Zealand releases CPI • Quarterly inflation: 0.9% vs. forecast of 0.8% • Year-over-year inflation: 3.1%, in line with expectations 📊 The reading was slightly warmer than forecast on a quarterly basis. Not a breakout, but no clear sign either that price pressures have neatly subsided. 02:21 🇨🇳 China sets the yuan midpoint • The PBOC set the reference rate at approximately 6.8112 per dollar 📊 Beijing continues to closely monitor its currency. Officially, calm; unofficially, everyone knows—calm sometimes requires careful supervision. 04:17 🍏 Apple announces leadership change • Tim Cook steps down as CEO • John Ternus appointed as new CEO • Cook will transition to Executive Chairman 📊 One of the most significant leadership transitions in Big Tech in years. Cook is handing over the reins after a highly successful era, leaving his successor with an exceptionally high bar to meet. 04:20 🤖 Amazon invests more billions in AI • Amazon plans to invest up to $25 billion in Anthropic 📊 The AI race is in full swing. While some are watching interest rates, others are simply throwing more billions on the table and pressing ahead. 🧠 Night’s Big Picture • Slightly higher inflation from New Zealand • Controlled yuan in China • Major leadership transition at Apple • Another massive AI move by Amazon