Franklin Templeton’s Australia fixed-income head says the initial market reaction to the US midterms has been a modest shift from equities into bonds and a rise in risk aversion. He warned that if Democrats win control of Congress markets may view this as a constraint on President Trump’s growth agenda, particularly in AI and the resources sector. Traders also increasingly see the RBA as close to ending its tightening cycle; three‑year Australian government bond yields are down about 15bps since

Industry data provider Zhuochuang reported November prices: mainstream 7628 thick fabric at 14.60–14.65 yuan/m, up 1.5 yuan/m MoM; 2116 thin fabric at 20.2 yuan/m, up 2.5 yuan/m MoM. Multiple listed supply‑chain companies said prices are market‑driven and still rising in November, with related capacity running at full load; leading firms called the quoted levels the current industry price. Firms with high‑end capacity said the market is changing rapidly and existing plants are at full production; new industry capacity is not expected to come online materially until H2 2027. Companies said both electronic fabric and electronic yarn remain in a high‑demand cycle, and conservatively expect high activity through the end of next year.

PBOC conducted 257.5 bn yuan of overnight reverse repo operations; 621 bn yuan of overnight and 151 bn yuan of seven-day reverse repos matured today, resulting in a net liquidity drain of 514.5 bn yuan.