Jin10 Summary: Fed Holds Rates Steady, Bank of Canada Raises Rates

On October 29, according to Jinshi Data, the Federal Reserve kept interest rates unchanged at its October meeting, with Harker and Cook favoring a 25-basis-point rate hike. The statement cited a resilient economy and emphasized the need to accumulate more information before taking further action. Walsh stated that financial conditions have tightened but are not restrictive, and that the number of policy meetings will be reduced starting next year. The Bank of Canada raised rates for the first time in over three years, with additional hikes possible in the future.

Domestically, as of October 28, all disbursements for the 2026 new policy financial instruments were completed, totaling 800 billion yuan. Investment institutions broadly believe the market has overshot, with certain pension funds, insurance companies, and public mutual funds already stepping up purchasing activity.

In the corporate sector, Microsoft’s quarterly Azure revenue exceeded expectations with a 48% increase, and free cash flow remained steady. Google’s quarterly revenue and profit both fell short of forecasts, placing pressure on returns from AI investments. Unitree Robotics reported a 17% year-over-year decline in net profit for the third quarter.