宏观大类日报：关注中国11月LPR报价

Market Analysis - The U.S. election results have led to a Trump administration with Republican control of both houses, which may increase inflation due to proposed tax cuts and tariffs[3] - The U.S. October CPI rose by 2.6% year-on-year and 0.2% month-on-month, aligning with market expectations, providing support for the Fed's current monetary policy[3] - Domestic policies in China include a debt limit of 6 trillion yuan for 2024-2026 and a special debt quota of 800 billion yuan annually for five years, significantly reducing hidden debt from 14.3 trillion yuan to 2.3 trillion yuan by 2028[3] Commodity Insights - Precious metals are recommended for buying on dips, while other commodities are viewed neutrally[3] - The oil market is expected to face oversupply pressures due to OPEC's increased production and accelerated energy transition[5] - The agricultural sector, particularly the oilseed segment, is performing strongly due to supply tightness from biofuel production and La Niña effects[5] Risk Factors - Geopolitical risks, particularly in the energy sector, could lead to upward price pressures[6] - A potential global economic downturn could negatively impact risk assets[6] - The Fed's unexpected tightening could also pose risks to risk assets[6]