Germany October services PMI (final): new business inflows fell again, restraining growth and putting pressure on hiring; input-cost inflation eased after fuel discount was reinstated; business expectations rose to the highest level since February.

China A-shares opened higher then swung; the Shanghai Composite tested the 3,600 level intraday before recovering and was down 0.1% at the midday close. Shenzhen Composite Index rose 0.14% and the ChiNext Index, which earlier gained more than 1%, closed up 0.1%. Turnover across the two exchanges exceeded 900 bln yuan and more than 3,700 stocks fell. Film chains and cultural-media names extended gains; robotics and grain-related stocks were active. Precious metals pulled back after earlier strength, dairy stocks retreated sharply, property underperformed, and dyes and livestock led declines.

ANZ rates strategist Jack Chambers said a Democratic clean sweep in the US midterms would make fiscal policy harder to adjust over the coming years — likely preventing further deficit widening but leaving deficits at elevated levels. He said he is skeptical the midterms will drive a sustained rally in US Treasuries; robust US activity indicators support further Fed rate hikes and imply Treasury yields may remain elevated.