Jin10 Roundup: PBOC Swap Facility Operation, RBA Rate Hike

TechFlow reported on Nov. 4, according to Jin10 Data, that on the domestic front the PBOC conducted a RMB 100 billion swap facility operation for securities, funds, and insurance companies, with a winning bid rate of 10bp; PBOC Governor Pan Gongsheng said the PBOC will maintain the stable operation of financial markets including equities, bonds, and foreign exchange. The State Council report on financial work outlined five considerations for the next stage of financial work.

On the international front, the RBA raised rates by 25 basis points as expected to 4.85%, the highest level in 18 years; Trump said the U.S. could achieve a balanced budget if the Fed cuts rates. AMD's quarterly revenue and guidance both exceeded expectations, with AMD shares rising 9% after hours.

On the geopolitical front, Middle East media, citing sources, said the U.S. and Iran have made concessions on the nuclear issue and frozen assets, but senior Iranian officials said a deal remains far off; Trump confirmed a 'small-scale attack' on Iran in the early hours of Nov. 3 Beijing Time, saying it was not a war. Melania will invite Russian and Ukrainian representatives to talks at the White House on Nov. 5.

Source: TechFlow