The 720

This report highlights accelerating investment in China's data center infrastructure and discusses the impact of rising US yields on equity-bond correlations. It also provides updates on various Asian corporates and Taiwan's robust export growth.

Key Takeaways

• 1.China is preparing to invest Rmb2tn in data centers over the next five years, with power consumption expected to reach 800 TWh by 2030.
• 2.Rising US 10-year yields are driving equity correlations to bonds into negative territory, prompting a shift toward risk mitigation strategies.
• 3.Taiwan's May exports showed a sharper-than-expected rebound of 9.4% MoM, largely driven by AI-related tech exports.

Table of Contents

• In Focus | China Data Centers
• Listen Up - GS Webcasts on the Agenda
• Cross Asset Strategy | Revisiting Equity and Bond Correlations Amid Rising Yields
• Themes in Play | SKY Perfect JSAT, Tsuruha, YOFC, Ruijie
• GS Events | BeOne Medicines, Bank Mandiri, BDO Unibank, Bank of East Asia
• Asia Macro | Taiwan