Bank of England chief economist Pill said there is no evidence of second-round effects in profit margins or wage-setting.

U.S. stocks showed tentative stabilization on Friday as dip-buyers supported beaten-down AI names, but the depth of this week’s sell-off leaves doubt over whether the worst is past. BofA strategist Michael Hartnett’s team says equity funds drew $92.3bn over the four weeks through Wednesday, the largest inflow since June. The team retains a risk-off stance and will not turn more constructive on the financial backdrop until the Fed stops hiking, the U.S. 10-year Treasury yield falls below 4.5% and oil trades under $80/bbl.

Societe Generale rates strategist says with US midterms concluded the Treasury market is refocusing on fundamentals. October US nonfarm payrolls due 21:30 Beijing time. An oil-price drop and removal of a major risk event initially lifted stocks and bonds, but fiscal policy, Treasury issuance, the debt ceiling and the pace of AI-driven investment remain longer-term constraints. With fading fiscal impulse, moderating inflation and episodic risk-asset volatility, the strategist expects US Treasuries to keep safe-haven appeal, supporting a modest decline in yields and further curve flattening in the medium term.