Core Points - The Bank of Canada has lowered its key overnight interest rate by 25 basis points to 2.25%, the lowest level since July 2022, marking the fourth rate cut in 2025 [1] - The central bank aims to mitigate the impact of U.S. trade policy adjustments on the Canadian economy while keeping inflation around the 2% target [1] - The Bank of Canada's latest economic forecast shows a significant reduction in GDP growth projections, with 2025's real GDP growth rate revised down from 1.8% to 1.2% [1][2] Economic Outlook - The Bank of Canada expects the overall inflation rate for 2025 to be 2.0%, down from a previous forecast of 2.3%, with 2026 and 2027 remaining at 2.1% [2] - The central bank has noted that oil price declines and the cancellation of carbon taxes will temporarily lower the Consumer Price Index (CPI) [2] - Despite the easing measures, the central bank emphasizes the limitations of monetary policy in addressing structural damages caused by trade wars [2][3] Market Reactions - Following the announcement, the Canadian dollar strengthened, and market pricing indicates that investors do not expect further rate cuts before March 2026 [2] - The yield on Canadian 2-year government bonds rose by 5.2 basis points to 2.406% [2] Financial Stability - The Bank of Canada plans to resume purchasing short-term government bonds in the fourth quarter of 2025, indicating a focus on financial stability [3] - The central bank acknowledges significant regional differences in the housing market and discusses potential financial stability impacts [3] - The central bank warns that current stock valuations appear "overvalued" based on multiple indicators [3]

据了解，29日生效的新措施主要源自新加坡"股票市场审查小组"的建议，旨在使监管制度与主要发达市 场保持一致，提高市场效率。 新加坡金融管理局（MAS）与新加坡交易所监管公司（SGX RegCo）10月29日宣布一系列旨在提升股 市竞争力的改革措施。其中，多项推动市场向"披露为本"转型的监管新规于当日生效；同时，监管机构 提议将主板上市审查职能统一整合至新交所监管公司，并就此展开公开咨询。 在上市准入标准方面，关键调整包括将主板上市的盈利测试门槛从3000万新元下调至1000万新元。对于 内部控制缺陷等问题，新规要求发行人必须向投资者清晰披露。在利益冲突方面，新规同样要求披露相 关情况及应对措施，但对于房地产投资信托（REITs）和商业信托，监管机构保留了发行人必须在上市 前解决或减轻此类冲突的要求。 （文章来源：新华财经） ...

世界酱香白酒核心产区（贵州・仁怀）首份可持续发展报告发布 引领行业绿色高质量发展 【中国白酒网】10月28日，《世界酱香白酒核心产区（贵州・仁怀）可持续发展（环境、社会、治 理）报告》（简称《报告》）在贵州省仁怀市举办的"2025年首届赤水河论坛专题论坛三：酒业数字化 高质量发展"上正式发布。《报告》既是世界酱香白酒核心产区（贵州・仁怀）发展历程中的重要里程 碑，也是全球首部以白酒产区为核心的可持续发展报告，标志着中国白酒产业在绿色、高质量转型方面 迈出关键一步。 报告三大核心价值：定标准、建框架、树形象 作为酱香酒的发源地和"中国酒都"，世界酱香白酒核心产区（贵州・仁怀）始终肩负着传承千年酿 酒文化与推动产业可持续发展的双重使命。中国经济信息社可持续发展首席分析师、首届财政部可持续 发展咨询专家萨爽在解读《报告》时表示，《报告》的核心价值体现在三个方面： 一、维度创新：首次从可持续治理、和谐友善社会、生态环境建设三个维度，对标联合国《2030年 可持续发展议程》中的17个目标；二、议题聚焦：精准识别出仁怀产区十九个可持续发展重要性议题， 系统构建起产区可持续发展的战略框架；三、品牌赋能：将可持续发展理念全面 ...

Core Insights - The Chicago futures market for corn, wheat, and soybeans showed mixed price movements on October 29, with corn and wheat prices increasing while soybean prices declined [1][2] Group 1: Price Movements - The most actively traded December corn contract closed at $4.34 per bushel, up 2 cents or 0.46% from the previous trading day [1] - The December wheat contract closed at $5.32 per bushel, up 3.25 cents or 0.61% from the previous trading day [1] - The January 2026 soybean contract closed at $10.95 per bushel, down 0.75 cents or 0.07% from the previous trading day [1] Group 2: Market Analysis - The agricultural market has already priced in positive developments regarding trade situations, leading to a decline in soybean prices due to profit-taking [1] - Analysts suggest that unless severe drought occurs in South America, there is limited upside potential for crop prices [2]

Core Viewpoint - Guangdong Jintian Animation Co., Ltd. (Jintian Animation) has submitted an application for a mainboard IPO on the Hong Kong Stock Exchange, aiming to raise funds to enhance product development capabilities and expand its IP portfolio [1][8]. Group 1: Company Overview - Jintian Animation specializes in IP-themed snack foods, with licensed IPs including Ultraman, My Little Pony, Crayon Shin-chan, and Sanrio [1][2]. - As of June 30, 2025, Jintian Animation operates five production bases nationwide and holds 26 licensed IPs with over 600 active SKUs across five product categories: candy, biscuits, puffed snacks, chocolate, and seaweed snacks [2]. Group 2: Financial Performance - Jintian Animation's revenue has shown consistent growth, with figures of CNY 596 million, CNY 664 million, and CNY 877 million for the years 2022 to 2024, respectively. Net profits for the same period were CNY 36.7 million, CNY 75.2 million, and CNY 130 million [2]. - In the first half of 2025, the company achieved revenue of CNY 444 million, representing a year-on-year growth of 9.82%, and a net profit of CNY 70 million, up 13.45% [2]. Group 3: Dependency on IP Licensing - The company heavily relies on external IP licensing, with sales from IP-themed snack foods accounting for 99.5% of total revenue in the first half of 2025 [2]. - The Ultraman IP is the largest contributor, consistently accounting for over 40% of the company's revenue [2][3]. Group 4: Customer Concentration and Accounts Receivable - Jintian Animation's customer base includes distributors, direct retail merchants, and end consumers, with a significant portion of sales dependent on major direct retailers [4]. - The revenue share from major direct retailers increased to 43.2% in the first half of 2025, while the revenue from the top five customers rose from 4.1% in 2022 to 40.7% in the first half of 2025 [4][6]. - The accounts receivable from the top five customers accounted for 68.73% of total accounts receivable in the first half of 2025, with the turnover days for trade receivables increasing from 3.5 days in 2022 to 10 days in the first half of 2025 [6]. Group 5: IPO Purpose and Future Plans - The funds raised from the IPO will be primarily used to enhance product development capabilities, increase brand awareness, expand the sales network, upgrade supply chain and IT infrastructure, and seek strategic investments and acquisitions [8].

截至10月29日，全球最大黄金ETF--SPDR Gold Trust持仓较上日减少2.87吨，当前持仓量为1036.05吨。 （文章来源：新华财经） ...

她特别强调"解决方案无需革命性变革"。"我们可以运用《欧盟条约》中的'桥梁条款'，在涉及共同利益 时通过合格多数而非全体一致作出决策，"拉加德此番表态延续了她既往的改革主张。 （文章来源：新华财经） 新华财经北京10月30日电欧洲央行行长拉加德再次呼吁改革欧盟决策机制，推动采用多数表决制以提升 联盟运行效率。 "即便我们能就行动方案达成共识，现行治理机制往往阻碍我们果断决策，"拉加德周三在意大利佛罗伦 萨发表讲话时表示，"现有体制已变得过于缓慢复杂，过度受制于个别成员国的否决权挟持。" ...

Core Insights - Airbus reported a revenue of €17.826 billion for Q3 2025, a 14% year-on-year increase, with adjusted EBIT rising by 38% to €1.942 billion [2] - For the first three quarters of the year, Airbus achieved a total revenue of €47.436 billion, up 7% year-on-year, and adjusted EBIT of €4.146 billion, reflecting a 48% increase [2] Revenue Breakdown - The commercial aircraft division saw a 12% increase in revenue and a 45% rise in adjusted EBIT for Q3 [2] - The helicopter division's revenue grew by 16%, with adjusted EBIT increasing by 29% [2] - The defense and space division reported a 17% revenue increase, with adjusted EBIT rising by 6% [2] Delivery Performance - In the first three quarters, Airbus delivered 507 commercial aircraft and 218 helicopters, both figures showing an increase compared to the same period last year [2] - The commercial aircraft division's revenue increased by 3% year-on-year, with adjusted EBIT up by 8% [2] - The helicopter division's revenue grew by 16%, with adjusted EBIT rising by 18% [2] Future Outlook - Airbus CEO Guillaume Faury indicated that deliveries remain behind schedule in a complex operating environment but confirmed the company's full-year targets for 2025, expecting to deliver approximately 820 commercial aircraft and achieve adjusted EBIT of around €7 billion [3] - The targets account for the current tariff levels, and Airbus aims to enhance commercial aircraft production capacity [3] - Airbus is optimistic about the prospects of its recent aerospace business integration with Thales and Italy's Leonardo [3]

新华财经圣保罗10月29日电（记者杨家和）受美联储降息及全球市场乐观预期提振，巴西股市29日连续 第三个交易日上涨，股指创下历史新高。 当日，巴西主要股指Ibovespa当日收涨0.82%，报148632.93点，盘中一度突破149000点大关；雷亚尔兑 美元汇率小幅上涨0.04%，收于1美元兑5.3581雷亚尔。 分析人士指出，巴西较高的国内利率水平将继续吸引国际资本流入，在全球主要经济体进入降息周期的 背景下，巴西资产相对回报优势凸显，成为推动股市上涨的重要因素。 此外，市场亦关注中美即将在韩国的会晤，投资者期待双方在经贸问题上取得积极进展，从而进一步稳 定全球市场预期。 （文章来源：新华财经） 美联储当天宣布将联邦基金利率下调0.25个百分点至3.75%-4.00%区间，为近期连续第二次降息。市场 普遍认为，此举符合此前预期，有助于缓解全球流动性压力。 ...

Core Insights - Brazil's central bank reported a 1.1% month-on-month increase in national credit volume for September, reaching 6.844 trillion reais [1] - The growth in credit was driven by a rebound in corporate and personal loan issuance, with free resource loans rising by 8.1% and directed resource loans increasing by 8.2% [1] - The non-performing loan rate for free resource loans improved slightly from 5.4% in August to 5.3% in September, marking two consecutive months of improvement [1] - Average interest rates for free credit loans decreased to 45.5%, down 0.4 percentage points, while directed credit rates fell to 11.1%, down 0.6 percentage points [1] - The banking spread in free credit business narrowed to 31.9 percentage points, compared to 32.2 percentage points in the previous month [1] - Analysts noted that the credit growth indicates a recovery in corporate financing activities and a gradual restoration of consumer credit demand, although high interest rates raise questions about the sustainability of loan expansion [1]