Core Insights - The People's Bank of China aims to maintain the RMB exchange rate at a stable and reasonable level, emphasizing a managed floating exchange rate system and market supply-demand principles [1] - The U.S. private sector has seen an average reduction of 11,250 jobs every two weeks, indicating a slowdown in labor market momentum [2] - The unemployment rate in the UK has risen to 5%, the highest level since February 2021, suggesting ongoing pressure in the labor market [2] Market Developments - The Hong Kong government successfully priced approximately HKD 10 billion worth of tokenized green bonds, marking the third batch of such bonds and establishing a technological foundation for future digital currency systems [1] - The U.S. Senate has passed a continuing resolution to avoid a government shutdown, with the House set to vote on the temporary funding bill [1] - President Trump warned that if the Supreme Court invalidates his emergency powers to impose tariffs, it could lead to an economic and national security disaster [1] Economic Indicators - The average weekly layoffs in the U.S. have increased to 11,250, reflecting a significant slowdown compared to earlier in the month [2] - A survey by the University of Michigan indicates that 71% of respondents expect the U.S. unemployment rate to rise in the next year, the highest percentage since 1980 [2] - The NFIB's small business optimism index fell by 0.6 points to 98.2, indicating decreased confidence among small business owners regarding future business conditions [2] - The UK's unemployment rate has increased to 5.0%, surpassing market expectations and highlighting ongoing labor market challenges [2] Global Market Dynamics - The Dow Jones Industrial Average rose by 1.18% to close at 47,927.96, reaching a new closing high, while the S&P 500 increased by 0.21% to 6,846.61 [3] - COMEX gold futures rose by 0.27% to $4,133.20 per ounce, and silver futures increased by 1.52% to $51.08 per ounce [4] - U.S. oil prices saw an increase, with the main contract rising by 1.51% to $61.04 per barrel, and Brent crude up by 1.7% to $65.15 per barrel [5]