Top Overnight News The yen continued to unwind its intervention gains and Treasuries fell. Oil rose after Donald Trump pushing Iran to reach a deal with Oman on the Strait of Hormuz as soon as today, or face devastating air strikes. BBG Oil prices look too low as disruptions to flows through the Strait of Hormuz are expected to persist, MLIV said. Prediction markets also show little optimism that shipments will resume anytime soon. BBG The Trump administration is drafting a ban on U.S. imports of new models of Chinese data center components, four people familiar with the matter told Reuters, as it seeks to protect the infrastructure that undergirds the AI boom. RTRS Japan Finance Minister Satsuki Katayama said the US holds the country’s economic policies in high regard, sidestepping questions on whether Washington helped strengthen the yen. BBG Chinese officials are growing concerned about the potential for Anthropic’s Mythos and other US AI models to be used as an offensive weapon, people familiar said. BBG Michigan Democrats vote today in a high-profile Senate primary between moderate Rep. Haley Stevens and progressive Abdul El-Sayed. The winner will face Donald Trump-backed Mike Rogers. Virginia, Kansas, Missouri and Washington also hold primaries. BBG Todd Blanche’s nomination as attorney general seems set to advance in the Senate Judiciary Committee today after he agreed to rescind an order creating a $1.8 billion “anti-weaponization” fund, winning over holdout Republican senators. BBG China’s AI blitz is rapidly narrowing the gap with Silicon Valley — creating what’s been described as a “death zone” for anyone without frontier-pushing technology or market-breaking pricing. BBG China’s below-normal crude imports may persist if Middle East supply disruptions continue. BBG US Senate voted 89-4 to advance stopgap funding bill which would fund the US government through to December 11th.(zerohedge)