Treasury yields hit a high of 5.04 percent as inflation fears mounted ahead of the Federal Reserve meeting. In corporate moves, Truist exits near-prime auto lending and Enova abandoned its bank acquisition, while Nvidia considers a major investment in Anthropic. Real estate took a hit with DivcoWest selling a Glendale office tower at a steep loss.
01Market mover
US 10-Year Treasury Yield Nears 5% Threshold
Mounting fiscal supply and basis-trade leverage make long-dated sovereign borrowing costs vulnerable to market structure shocks rather than just economic fundamentals.
The 10-year rose as high as 5.04 percent on Tuesday, marking its highest level since 2007. The climb was driven by surging oil prices that have pushed past $100 a following rising tensions in the Middle East, reigniting concerns over persistent ahead of the policy meeting. Treasury Secretary Scott Bessent attempted to calm the market with up to $6 billion in , but traders continued pushing yields higher. Higher borrowing costs ripple across the economy, complicating standards in and driving up for homebuyers.
Nvidia Considers Up to $10 Billion Investment in Anthropic IPO
Financing its primary tenant's listing creates a circular capital flow that inflates compute demand expectations while anchoring Nvidia's own data center hardware backlog.
Nvidia is considering an investment of up to $10 billion to serve as an anchor investor in Anthropic's potential initial public offering. Anthropic has selected for the listing, which could value the developer near $2 trillion and raise as much as $100 billion. The transaction would eclipse a previous record as the largest public debut on record. Nvidia's potential check functions as a strategic maneuver to secure hardware demand while participating in customer upside. The chipmaker previously committed up to $10 billion in November 2025 alongside Microsoft Azure infrastructure, creating a financial feedback loop where the hardware supplier finances its own tenant. Anthropic reported an annualized run rate surging past $65 billion by July 2026, up from $9 billion at the end of 2025. The terms of the offering remain under negotiation and subject to change without a completed S-1 filing.
Truist to Exit Near-Prime Auto Lending and Sell $5.5B Loan Portfolio
Ridding a regional bank of non-performing indirect auto debt sheds credit risk and recaptures loan loss reserves, directly bolstering capital ratios strained by subprime retail borrower defaults.
Truist Financial is exiting the near-prime auto lending business and selling a $5.5 billion loan that comprises nearly all the of its Regional Acceptance Corp subsidiary. The transaction will generate $5.2 billion in net proceeds, a $535 million loan loss reserve recapture, and $945 million of common tier 1 . New CEO Michael Lyons initiated the sale as part of a broader review to shed noncore operations and improve the bank credit profile. The regional acceptance unit suffered from heavy delinquencies and charge-offs, with non-performing indirect auto loans reaching $569 million in the second quarter. Truist expects the divestiture to reduce net charge-offs by about 10 annually while delivering modest and return on tangible common equity accretion. The deal is slated to close in the third or fourth quarter.
Political opposition to high-cost consumer lending effectively blocks nonbank fintechs from using bank acquisitions as a pathway to secure national charters and cheaper deposit funding.
Enova International withdrew its applications to acquire Grasshopper Bancorp, ending a thirty-six-hundred-million-dollar cash-and-stock deal announced nine months prior. CEO Steve Cunningham cited unclear regulatory standards for nonbank lenders seeking to buy national banks, noting that the approval process proved susceptible to political pressure and outside advocacy. Neither the nor the Office of the Comptroller of the Currency had issued a decision before the withdrawal, though twenty state attorneys general and lawmakers had urged regulators to reject the transaction over concerns about high-cost lending. Shares in Enova plunged twenty-five percent following the announcement. The company now plans to accelerate share repurchases for the remainder of the year.
Standard Chartered Predicts Strong Arbitrum Growth Through 2030
Robinhood Chain's protocol revenue-sharing model anchors layer-two token valuations to institutional adoption, even while native token holders lack direct equity-like claims on those cash flows.
Standard Chartered projected that the native ARB token of the Arbitrum network will reach $10 by the end of 2030, marking a roughly 70-fold increase from its around $0.14. Geoffrey Kendrick, the bank's global head of digital research, attributed the forecast to network economics bolstered by the launch of Robinhood Chain, which pays 10 percent of its net protocol into the Arbitrum ecosystem. That revenue share has pushed Arbitrum toward a monthly run-rate of $5 million for September, representing more than five times the level recorded before the chain debuted in July. Kendrick also projected tokenized traditional assets will reach $4 trillion by the end of 2028, creating a structural tailwind for infrastructure providers like Arbitrum. Risks to the price target include slower-than-expected tokenization, competition from alternate blockchains, and the fact that ARB holders currently possess no direct claim on the network's revenue.
Standard Chartered ARB Price Forecast ($)
Standard Chartered forecasts ARB to climb to $10 by the end of 2030
DivcoWest Sells Glendale Office Building for $70 Million
Acquiring office towers below their outstanding mortgage balances converts unrealized debt risks into direct capital losses for legacy lenders while permanently resetting regional rent underwriting baselines.
Bisnow reports that DivcoWest sold the 24-story office building at 655 N. Central Ave. in Glendale for $70 million, less than half the $179 million it paid for the 542,000-square-foot property in 2017. An LLC linked to Sunny Hills Management Co. bought the tower for roughly $129 per square foot in a deal that closed in late August and was recorded on September 4. Deutsche Bank previously filed a deed of trust on the property in 2022 after CBRE secured a $145 million floating-rate loan maturing in early 2027. Sunny Hills Management capitalized on the distress to acquire the below its prior load, echoing its purchase last year of a Culver City office complex for $72.5 million. The transaction leaves lenders facing steep losses on legacy downtown office valuations as regional square-foot pricing drops below $200.
UWM Hires Leah Price from Better for Technology Team
A top AI architect leaving a digital-native broker for the largest wholesale lender shows legacy mortgage originators buying technical capabilities rather than building them internally.
Housingwire.com reports that Leah Price is leaving her role as general manager of Better and its Tinman platform to join United Wholesale 's technology team later this month in an innovation role. Price previously served as a senior financial technology and innovation specialist at the Federal Housing Finance Agency before joining Better in June 2025. Better founder Vishal Garg disclosed the departure on X, prompting a confirmation from a company spokesperson who stated Price moved on to pursue a new opportunity. The departure coincides with a corporate governance battle for control of Better between Garg and current management led by interim CEO Daniel Lewis, though a Better spokesperson denied any connection between the exit and the broader leadership dispute.
Spreading real estate losses and cancelled bank acquisitions show tightening pressure across private markets, even as mega tech deals proceed. Unresolved is whether rising yields will force more institutions to dump noncore assets at severe discounts.
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