2023.11.15 Today’s Focus

1. Both the U.S. CPI and core CPI data for October were lower than expected. Interest rate futures price the current round of interest rate hike cycles by the Federal Reserve has completely ended. At the same time, it is expected that a cumulative interest rate cut of 100BP will be carried out by the end of next year, with the first round of interest rate cuts as early as May.

2. Affected by the U.S. CPI data, the U.S. dollar index once fell below 104. The China Concept Stock Index and the Nasdaq Composite Index both closed up more than 2%. U.S. bond yields overall fell by about 20BP, and spot silver rose 3.5%.

3. The Eurozone’s GDP shrank in the third quarter and the employment rate increased.

4. The Democrats in the U.S. House of Representatives expressed support for House Speaker Johnson’s temporary appropriations bill.

5. Drought has caused the longest queue time in the Panama Canal to reach 12 days, and the “queue-jumping fee” is nearly 30 million yuan.

6. IEA monthly report: The oil market will experience a supply shortage by the end of the year, and a supply surplus may occur in early 2024.

7. U.S. officials: The United States has extended a 120-day waiver allowing Iraq to pay Iran for electricity.

8. Palestinian-Israeli conflict - The Israeli army said it had occupied multiple Hamas strongholds in parts of Gaza City and the defense minister: ground operations included southern Gaza.