Group 1 - The Federal Reserve is experiencing increasing internal disagreement regarding the future policy path, with various regional Fed presidents expressing differing views on inflation pressures, labor market resilience, and whether interest rates should continue to be lowered [2] - The current federal funds rate is in the range of 3.75% to 4%, but there is no consensus among decision-makers on whether this range is still "restrictive" [2] - Cleveland Fed President Mester advocates for maintaining stable interest rates to continue pressuring inflation back to the 2% target, highlighting persistent inflation impacts on low- and middle-income households [2] - St. Louis Fed President Bullard supports previous rate cuts but emphasizes that current inflation remains above the Fed's target, suggesting that policy should maintain some level of restrictiveness [2] - Investors face significant uncertainty regarding future policy direction, with the likelihood of another rate cut at the December meeting being nearly 50% according to interest rate futures pricing [2] - Minneapolis Fed President Kashkari expressed reservations about the October rate cut, stating he did not support it at the time due to strong economic performance and has not yet decided how to vote in the upcoming meeting [2] Group 2 - The Chinese Ministry of Finance plans to issue up to €4 billion in senior bonds [4] - Standard & Poor's has assigned an "A+" long-term foreign currency issuance rating to China's proposed euro-denominated bonds [6] - Country Garden Holdings announced key terms for its proposed restructuring, aiming to significantly reduce debt by over $11 billion, contingent on creditor participation in the restructuring plan [6] - Evergrande Property has been informed by its liquidator about the invitation for selected bidders to review further information and submit updated non-binding proposals by the end of November 2025 [6] - Evergrande Auto has received a court ruling regarding the bankruptcy and liquidation petition from creditors against its wholly-owned subsidiary, with production at its Tianjin facility suspended since January 2024 [6] Group 3 - As of November 13, the yield on China's two-year government bonds is 1.43%, while the ten-year yield is 1.81% [8] - The yield on U.S. two-year government bonds rose by 2 basis points to 3.58%, and the ten-year yield increased by 3 basis points to 4.11% [8]