Statistics Canada reported today that the country’s population growth rate fell to the slowest pace since World War I. That’s at odds with what US President Donald Trump suggested on Truth Social. Read more in the Canada Daily newsletter.

The World Semiconductor Trade Statistics, WSTS, sees the chip market almost doubling in 2026 and reaching $2.1 trillion in 2027. Memory is projected to take about 59% of that. This is not a classic silicon cycle. Korea’s semiconductor export prices jumped 173% year over year in July even as the shipment-inventory gap turned negative. That is the opposite of the usual four-year boom-bust pattern. The driver is the mix shift to HBM. High-bandwidth memory for AI servers uses two to three times the wafer area of commodity DRAM and sells at a steep premium. As more capacity moves to HBM, generic DRAM supply tightens and prices rise in a knock-on effect. Volume growth is slowing. Price and mix are doing the work. The macro cut runs both ways. Korea gets stronger capex and high-tech exports. The risk is chipflation that lifts costs for data centers, devices, and the broader digital economy. $MU

CME Group Monthly Market Statistics Second-Highest August ADV: 29.7M contracts 🔷 Interest Rate: 16.7M 🔷 Equity Index: 6.8M 🔷 Energy: 2.3M 🔷 Agricultural: 2.2M 🔷 Metals: 1M 🔷 FX: 730K 🔷 Crypto: 175K

According to internal FBI statistics, roughly 2,800 agents have left the bureau in the past year during Kash Patel's tenure as director. There has never been a more incompetent and disreputable FBI Director in American history. Patel has brought nothing but shame to the FBI.