The Institute of International Finance (IIF) reported that foreign investors added $14 billion to their emerging market debt portfolios, the lowest level since April.

Domestic News: 1. The People's Bank of China released its 2025 Q3 China Monetary Policy Implementation Report. 2. China Association of Automobile Manufacturers (CAAM): In October, sales of new energy vehicles in my country exceeded 50% of total sales for the first time. 3. Director Zheng Shanjie chaired a symposium with private enterprises to solicit opinions and suggestions on the development of the service industry during the 15th Five-Year Plan period. 4. The Ministry of Industry and Information Technology (MIIT) publicly solicited opinions on two mandatory national standards (draft for comments), including the "Safety Technical Specifications for Mobile Power Banks." 5. The National Development and Reform Commission (NDRC): 83 infrastructure REITs projects have been issued and listed, expected to drive total investment in new projects exceeding 1 trillion yuan. 6. The Ministry of Commerce answered reporters' questions regarding the US suspension of its export control penetration rule: Discussions will continue after a one-year suspension. International News: 1. Sources: India cut its December Russian crude oil orders and increased its purchases of US crude oil. 2. Sources: Switzerland is close to reaching a tariff agreement with the US, with tariffs at 15%. An agreement could be reached as early as Thursday or Friday. 3. Turkey seeks to sentence Istanbul Mayor Imamoglu to centuries in prison. The Turkish benchmark stock index plunged 3% following the news. 4. According to ADP, the U.S. private sector lost an average of 11,250 jobs per week in the four weeks ending October 25. 5. The Thai Prime Minister reiterated that he will no longer abide by the Thai-Cambodian peace declaration. 6. Goldman Sachs estimates that U.S. nonfarm payrolls fell by approximately 50,000 in October, the largest drop since 2020.

JPMorgan Chase: The Bank of England is expected to cut interest rates three times in December, March and June next year, each time by 25 basis points (the previous forecast was two rate cuts in February and April 2026).