倫敦金屬交易所(LME)：錫庫存減少45噸，鋁庫存減少1750噸，鎳庫存減少732噸，鋅庫存減少75噸，鉛庫存減少3525噸，銅庫存減少775噸。

LBBW senior fixed-income analyst said the ECB likely still has room to raise rates but is expected to stand pat at this week's meeting. The rate decision and Lagarde's press conference are unlikely to materially change market pricing and may instead temper medium-term rate expectations, given the Governing Council's recent signalling of cautious tightening. Worsening unrest in France could justify a more cautious stance. LBBW forecasts two further ECB hikes by spring 2027, with the policy rate peaking at 3%.

日本股市近期下跌開始出現超出單純AI/半導體調整的跡象：日經下跌同時，EUR/JPY跌破176.8、日元升值，歐美及日本債券被資金買入，CTA和宏觀基金回補債券空頭；此前承接科技資金的日本銀行和週期股也轉弱。尤其值得注意的是，油價上漲通常會壓低債券價格，但此次債券反而上漲，說明部分資金可能已經開始爲“全球經濟出現異常惡化”做準備，交易增長和金融穩定風險，而不只是通脹。我們因此懷疑歐洲風險可能正在接近臨界點，但明確表示當前證據仍不足，真正觸發因素尚無法確認。（摩根大通10月24日報告）