宏观周报：美元指数步入调整，国内制造业景气回暖

Group 1: Overseas Macro Insights - In October, the US PCE price index rebounded to 2.3% year-on-year, matching expectations and ending a six-month decline[3] - The US GDP for Q3 was revised to an annualized rate of 2.8%, driven by strong consumer spending[1] - The US unemployment claims indicate resilience in the job market, with a recent announcement of tariffs on Mexico, Canada, and China causing a temporary spike in the dollar index, which closed at 105.7[1] Group 2: Domestic Macro Insights - The manufacturing PMI for November recorded 50.3, indicating a continuous recovery for three months, with production and demand both improving[9] - Industrial enterprise profits continued to decline, with a total profit of 58,680.4 billion yuan from January to October, reflecting a year-on-year decrease of 4.3%[15] - The non-manufacturing PMI for November was 50.1, remaining low due to seasonal effects and a cooling construction sector[10] Group 3: Market Performance - The Shanghai Composite Index rose by 1.81% last week, with a year-to-date increase of 11.82%[19] - The 10-year US Treasury yield closed at 4.18%, reflecting a year-to-date increase of 30 basis points[21] - The CRB Commodity Index decreased by 1.02% last week but has increased by 8.76% year-to-date[24]