高频数据扫描：前期政策效果逐步显现

Group 1: Financial Data Trends - The three main characteristics of October's financial data are a decline in social financing growth, an increase in M2 growth, and a convergence in the decline of M1[1] - The decline in social financing growth is primarily due to a slowdown in government bond growth, which had previously provided a significant "net pull" effect on social financing[1] - M2 growth is driven by increases in M0 and bank deposits, while fiscal deposit growth has significantly decreased, indicating a shift from fiscal financing to expenditure[1] Group 2: Economic Indicators - The service production index year-on-year growth rose to 6.3%, and industrial added value increased by 5.3%, suggesting better economic performance compared to Q3[1] - The year-on-year growth rate of M2, excluding M1, continues to rise, reflecting a high savings tendency among microeconomic entities[1] - The average wholesale price of pork decreased by 1.15% week-on-week but increased by 19.11% year-on-year, indicating fluctuating food prices[1] Group 3: Commodity Market Insights - Brent and WTI crude oil futures prices fell by an average of 4.11% and 4.91% respectively, reflecting weak sentiment in the oil market[1] - The LME copper spot price averaged a week-on-week decline of 4.26%, while aluminum prices decreased by 1.89%[1] - The domestic cement price index increased by 0.27% week-on-week, contrasting with a 3.68% decline in the South China iron ore index[1]