Decision Desk HQ projects California voters will reject Proposition 40, a U.S.-first measure that would have levied a one-off 5% wealth tax on billionaires resident in California in early 2026, with most proceeds earmarked to shore up healthcare funding. AP tally with about 71% of votes counted shows 46% support and 54% oppose. Its likely defeat would be a significant setback to nationwide efforts to tax extreme wealth. Opposition to the measure included tech billionaires, Democratic Governor Ga

U.S. nonfarm payrolls rose 165,000 in October vs 65,000 expected; unemployment fell to 4.1%. Strong jobs data lifted the probability of a 25bp Fed hike in December to near 80%. The dollar index climbed 0.71% to 102.31, its biggest one-day move since June 17; the dollar strengthened about 0.72% vs the euro, 0.74% vs the pound and 0.5% vs the yen. U.S. Treasury yields rose, with the 10-year at 4.85% and the 2-year at 4.52%. Fed officials Williams, Musalem and Daly said inflationary pressure remains, and Daly said the Fed may still need to raise rates further.

英國央行首席經濟學家皮爾：沒有證據表明利潤率或工資設定中存在第二輪效應。