一周综评与展望：政策稳定预期，向好因素累积

Economic Data - In October, M1 and M2 growth rates showed signs of recovery, with M2 growing by 7.5% year-on-year[2] - The total social financing stock reached 403.45 trillion yuan, a year-on-year increase of 7.8%[2] - Retail sales in October increased by 4.8% year-on-year, accelerating by 1.6 percentage points from the previous month[2] - The industrial added value in October grew by 5.3% year-on-year, with a month-on-month increase of 0.41%[2] Policy Developments - The Ministry of Finance and other departments announced tax policies to support the real estate market, including increased tax incentives for housing transactions[2] - The policies aim to simplify the tax system and reduce the tax burden on individuals and enterprises, enhancing market vitality[2] U.S. Economic Indicators - In October, the U.S. CPI rose by 2.6% year-on-year, matching expectations, while the core CPI remained stable at 3.3%[3] - The inflation data indicates strong economic resilience in the U.S., which may limit the Federal Reserve's ability to lower interest rates in the near term[3] Risk Factors - Potential risks include geopolitical tensions, economic data falling short of expectations, and significant fluctuations in overseas markets[3]