Jin10 Summary: Central Bank Swap Facility Operations, RBA Rate Hike

On November 4, according to Jinshi Data, domestically, the PBOC conducted a 100 billion yuan swap facility operation for securities, fund, and insurance companies, with a winning bid rate of 10bp; PBOC Governor Pan Gongsheng stated his commitment to maintaining stable operations in financial markets such as stocks, bonds, and foreign exchange. The State Council's report on financial work outlined five considerations for next steps in financial work.

On the global front, the Reserve Bank of Australia raised interest rates by 25 basis points as expected to 4.85%, reaching an 18-year high; Trump stated that if the Federal Reserve cuts rates, the US could achieve a balanced budget. AMD's quarterly revenue and earnings guidance both exceeded expectations, and US stocks rose 9% in after-hours trading.

Geopolitically, Middle Eastern media cited sources stating that the US and Iran have both made concessions regarding nuclear issues and frozen assets, but senior Iranian officials indicated that reaching an agreement remains distant; Trump confirmed that early Beijing time on the 3rd, a "limited strike" was launched against Iran, describing it as not being an act of war. Melania will invite Russian and Ukrainian representatives to meet at the White House on the 5th.