1. European officials are considering consolidating the dollar to reduce reliance on the Federal Reserve.
2. The People's Bank of China (PBOC): As of the end of October 2025, the outstanding amount of social financing was 437.72 trillion yuan, a year-on-year increase of 8.5%.
3. PBOC Vice Governor Tao Ling: Actively develop direct financing such as equity and bonds.
4. PBOC official in the Financial Times: Rapid and frequent issuance of government bonds can provide some substitution for loans in the short term.
5. Institutions: The bond market is expected to regain favor next year.
6. Several small and medium-sized banks have intensively withdrawn their medium- and long-term fixed deposit products.
7. Financial Times: Rapid and frequent issuance of government bonds can provide some substitution for loans in the short term.
8. The US Treasury volatility index jumped to a one-month high; the end of the government shutdown has not ended uncertainty.
9. The Bank of Spain warned of high public debt and called on the government to take concrete measures to cut spending.
10. Berkshire Hathaway issued $1.4 billion worth of yen bonds.
11. Moody's downgraded Nike's senior unsecured bond rating from A1 to A2, with a stable outlook.
12. China Resources Land's final guidance price for its 5-year RMB green bond is 2.40%.
