紐約銅投機淨多倉位降到一年低點，中國現貨的緊張卻仍未緩解。基金撤退到這一步，什麼變化纔可能讓它們回頭？那筆高加價，夠不夠成爲理由？

Chicago Fed President Goolsbee said US inflation is at a "dangerous moment" after October CPI surprised to the upside, marking a second consecutive monthly increase. He had expected inflation to ease as tariff effects faded and oil fell, but that has not yet occurred. Goolsbee flagged persistent price pressure in services and healthcare that he says is unrelated to tariffs or oil. The Fed is trying to separate supply-side shocks (tariffs, prolonged high oil) from demand-side overheating tied to large-scale data-center construction. AI-related inflation remains concentrated in AI, tech and related sectors and has not yet broadened; the Fed is monitoring for spread. He warned that if data-center driven demand overheating starts to affect the wider economy it would become a problem. Proposals by newly elected Democratic governors to pause data-center builds are not directly connected to the Fed's inflation work.

Citrini半導體研究成員：如果沒有黃仁勳，英偉達(NVDA.O)可能會首先減少對新雲服務提供商的財務支持，並更少的收購初創公司。預計公司會變得更加官僚化。