宏观周报：国内外将迎来多个重大事件和会议

Economic Indicators - The onshore USD/CNY exchange rate broke 7.14, reaching a high of 7.1435 on October 29[5] - The U.S. Q3 GDP annualized quarter-on-quarter initial value was 2.8%, slightly below the expected 2.9% and previous 3.0%[5] - Eurozone Q3 GDP quarter-on-quarter initial value was 0.4%, exceeding the expected 0.2%[5] - China's official manufacturing PMI for October was 50.1%, up 0.3 percentage points from September, indicating a return to expansion[8] Labor Market - The U.S. unemployment rate for October remained at 4.1%, unchanged from the previous month[5] - The U.S. non-farm payrolls added only 12,000 jobs in October, significantly lower than the previous month's revised figure of 223,000[5] Monetary Policy - The People's Bank of China (PBOC) conducted a 500 billion CNY reverse repo operation, indicating liquidity support[9] - The U.S. Federal Reserve is expected to lower interest rates by 25 basis points in its upcoming meeting on November 8, following weaker job growth[11] Housing Market - Major Chinese banks announced a new pricing mechanism for commercial personal housing loans, allowing borrowers to adjust the repricing cycle to three or six months[6] Commodity Prices - The average wholesale price of pork remained stable at 24.44 CNY/kg, while vegetable prices declined to 5.37 CNY/kg[14] - The Baltic Dry Index (BDI) continued to decline, reaching 1378 points[24] Stock Market Performance - The Shanghai Composite Index fell by 0.84%, while the Shenzhen Component Index dropped by 1.55%[29] - The 10-year government bond futures rose by 0.38%, indicating a flight to safety amid stock market declines[29]