https://chase-dream.cn/digests/ai-20261031-am/NightIndexzh-cn2026-10-31T08:10:32+08:00人工智能（Artificial Intelligence，AI）隔夜晨报：平台入口、融资交易与风险约束 https://chase-dream.cn/en/digests/ai-20261031-am/NightIndexen2026-10-31T08:10:32+08:00Capital Meets Friction: DeepSeek’s RMB 105.5bn Round and Amazon’s $80bn Financing Face Security and Credit Tests — Apple-Qwen Launch Is the Delivery Check https://chase-dream.cn/digests/ai-20261031/NightIndexzh-cn2026-10-31T19:11:02+08:00人工智能（Artificial Intelligence，AI）产业：资本、算力与应用 https://chase-dream.cn/en/digests/ai-20261031/NightIndexen2026-10-31T19:11:02+08:00AI’s $750B Spend Test Meets a $1T+ Nasdaq-100 Wipeout: Anthropic’s Reported $100B IPO Bid, Meta’s Negative Rating Outlook and DRAM Scarcity — Who Pays? https://chase-dream.cn/digests/cn_macro-20261031-am/NightIndexzh-cn2026-10-31T08:03:40+08:00政策托底与开放增量 https://chase-dream.cn/en/digests/cn_macro-20261031-am/NightIndexen2026-10-31T08:03:40+08:00PBOC Sets 1.25% Reverse-Repo Auctions as China-Switzerland Pact Targets 99% Zero-Tariff Coverage, While Iran Alleges a Tanker Ignored a Hormuz Route Warning https://chase-dream.cn/digests/cn_macro-20261031/NightIndexzh-cn2026-10-31T19:04:35+08:00政策利率（Policy Rate）换锚、增量资金与外部风险的今日宏观图谱 https://chase-dream.cn/en/digests/cn_macro-20261031/NightIndexen2026-10-31T19:04:35+08:00PBOC’s 1.25% Overnight Repo Switch Formalizes Easing Without a Rate Cut — Industrial Profits +15.5%, ETF Inflows Near RMB400 Billion, and U.S.-Iran Strike Risk https://chase-dream.cn/digests/fed_macro-20261031-am/NightIndexzh-cn2026-10-31T08:01:28+08:00美联储加息路径分歧显现，住房与劳动力数据添变量 https://chase-dream.cn/en/digests/fed_macro-20261031-am/NightIndexen2026-10-31T08:01:28+08:00Two Fed Officials Wanted a Hike and Logan Sees 50bp More — December Bet Meets Labor Costs Below Inflation https://chase-dream.cn/en/digests/fed_macro-20261031/NightIndexen2026-10-31T19:01:27+08:00Fed Holds Rates as 3.4% Growth Coexists With -0.3% Real Disposable Income — More-Hike Calls and a $40B Florida Mortgage Plan https://chase-dream.cn/digests/fed_macro-20261031/NightIndexzh-cn2026-10-31T19:01:27+08:00美联储利率决议：按兵不动与渐进加息信号并存 https://chase-dream.cn/en/digests/global_macro-20261031-am/NightIndexen2026-10-31T08:06:23+08:00Fitch Turns France’s A+ Outlook Negative as the ECB Holds Behind a December Hike Call — Tokyo Core CPI Hits 2.6% While Euro-Area Growth Is 0.4% https://chase-dream.cn/digests/global_macro-20261031-am/NightIndexzh-cn2026-10-31T08:06:23+08:00暂停不等于结束：法国评级展望转负 https://chase-dream.cn/digests/global_macro-20261031/NightIndexzh-cn2026-10-31T19:06:32+08:00全球宏观：能源与财政压力牵动政策，防御交易升温 https://chase-dream.cn/en/digests/global_macro-20261031/NightIndexen2026-10-31T19:06:32+08:00Europe’s 1.9% Defensive Gain Meets a €1.5bn French Shutdown-Weekend Cost as the BoE Eyes 5x Mortgages — Faster BOJ ETF Sales May Aid Takaichi’s Spending Plan https://chase-dream.cn/en/digests/hormuz-20261031-am/NightIndexen2026-10-31T08:08:39+08:00Reported Hormuz Mine Incidents Meet $117.64 Brent: U.S.-Iran Talks Collide With Post-Midterm Strike Risk https://chase-dream.cn/digests/hormuz-20261031-am/NightIndexzh-cn2026-10-31T08:08:39+08:00霍尔木兹海峡（Strait of Hormuz）油轮警报与油价冲高并存 https://chase-dream.cn/en/digests/hormuz-20261031/NightIndexen2026-10-31T19:08:50+08:00IRGC Reports Fourth Hormuz Tanker Hit a Mine — Traffic Stays 70% Below Pre-War Levels as Oil Reaches a Six-Month High — Talk Claims Meet Fresh War Warnings https://chase-dream.cn/digests/hormuz-20261031/NightIndexzh-cn2026-10-31T19:08:50+08:00霍尔木兹海峡（Strait of Hormuz）：第四艘油轮触雷，航运流量仍比战前低七成 https://chase-dream.cn/digests/industrial_metals-20261031-am/NightIndexzh-cn2026-10-31T08:16:38+08:00工业金属（Industrial Metals）多数走弱，铜市现实减产与远期过剩预期分化 https://chase-dream.cn/en/digests/industrial_metals-20261031-am/NightIndexen2026-10-31T08:16:38+08:00Copper’s Supply Squeeze Meets AI-Spending Anxiety: LME Copper Falls $202 as Chile Posts Its Lowest Quarterly Output Since 2006 https://chase-dream.cn/en/digests/industrial_metals-20261031/NightIndexen2026-10-31T19:16:43+08:00Copper’s $205/t Yangshan Premium Holds Through a 1.41% AI-Led Copper Drop to $14,154.5/t — Chile’s 8.4% Output Downgrade Raises the Stakes https://chase-dream.cn/digests/industrial_metals-20261031/NightIndexzh-cn2026-10-31T19:16:43+08:00基本金属（base metals）普跌，铜的供给约束难抵风险偏好降温 https://chase-dream.cn/digests/precious_metals-20261031-am/NightIndexzh-cn2026-10-31T08:14:47+08:00金银隔夜重挫，白银跌势更深 https://chase-dream.cn/en/digests/precious_metals-20261031-am/NightIndexen2026-10-31T08:14:47+08:00Oil and Fed Hike Fears Push New York Gold Below $3,880 as Silver Breaks $50: Liquidation Compounds the Selloff https://chase-dream.cn/digests/precious_metals-20261031/NightIndexzh-cn2026-10-31T19:14:42+08:00黄金（gold）白银（silver）同步下挫，部分避险资金转向美债 https://chase-dream.cn/en/digests/precious_metals-20261031/NightIndexen2026-10-31T19:14:42+08:00Oil-Inflation Pressure and Treasury Rotation Drive Gold 3.3-3.6% Through $3,900 as Silver Breaks $50: Jewelry Marks Fall CNY 541-548/g From Year Highs https://chase-dream.cn/digests/research-20261031-am/NightIndexzh-cn2026-10-31T08:12:44+08:00隔夜晨报：估值修复与全球利率约束 https://chase-dream.cn/en/digests/research-20261031-am/NightIndexen2026-10-31T08:12:44+08:00Hyperscalers’ $182bn Debt Build Meets $991bn of Treasury-Bill Supply as Democratic Sweep Odds Span 64%-68% - Relief Hinges on Yields and Revenue https://chase-dream.cn/en/digests/research-20261031/NightIndexen2026-10-31T19:13:23+08:00Ten AI Firms Carry 16% of CDX Implied Risk While A-Share Profits Grow ~15% — A Valuation-Led Rebound Meets a Funding Test https://chase-dream.cn/digests/research-20261031/NightIndexzh-cn2026-10-31T19:13:23+08:00研报动态：A股再平衡、人工智能信用重估与选举扰动 https://chase-dream.cn/en/digests/ai-20261030-am/NightIndexen2026-10-30T08:11:40+08:00AI Capex Enters Its Stress Test: Amazon Sees $1T AWS Revenue as Ares Sees a $5T Capex Need and Microsoft Plans at Least $25B in Bonds https://chase-dream.cn/digests/ai-20261030-am/NightIndexzh-cn2026-10-30T08:11:40+08:00人工智能（Artificial Intelligence）隔夜晨报：科技股承压，亚马逊拟向云业务之外客户销售自研芯片 https://chase-dream.cn/digests/ai-20261030/NightIndexzh-cn2026-10-30T19:10:36+08:00人工智能（Artificial Intelligence，AI）资本开支撞上回报检验，亚洲产业端继续扩张 https://chase-dream.cn/en/digests/ai-20261030/NightIndexen2026-10-30T19:10:36+08:00AI Capex Enters a Cash-Flow Test: Three of Five Reported Tech Giants Post Negative FCF — Anthropic’s Near-$1tn IPO Raises the Return-on-Capital Bar https://chase-dream.cn/digests/cn_macro-20261030-am/NightIndexzh-cn2026-10-30T08:05:54+08:00人民币汇率走强，财政增量与科技政策共振 https://chase-dream.cn/en/digests/cn_macro-20261030-am/NightIndexen2026-10-30T08:05:54+08:00Policy-Based Financial Instruments Worth 800 Billion Yuan Are Fully Deployed as 27.3 Trillion Yuan of Fiscal Spending Builds Support — Offshore RMB Breaks 6.66, but Fixed Investment Is Down 7.2% https://chase-dream.cn/en/digests/cn_macro-20261030/NightIndexen2026-10-30T19:03:39+08:00PBOC Sets a Daily 1.25% Overnight Auction as Yuan Breaks 6.65 per Dollar, but Euro-Area Unemployment Rises to 6.5% - Operational Shift Meets Labor Softness https://chase-dream.cn/digests/cn_macro-20261030/NightIndexzh-cn2026-10-30T19:03:39+08:00短端利率改框架，人民币走强：政策与外部变量并行 https://chase-dream.cn/en/digests/fed_macro-20261030-am/NightIndexen2026-10-30T08:01:35+08:00Fed Holds at 3.75%-4.00% as 3.4% GDP and 3.1% Core PCE Keep December Hike in Play — 10-Year Yield Slips, Fiscal Supply Looms https://chase-dream.cn/digests/fed_macro-20261030-am/NightIndexzh-cn2026-10-30T08:01:35+08:00美联储按兵不动，12月加息路径仍未排除 https://chase-dream.cn/digests/fed_macro-20261030/NightIndexzh-cn2026-10-30T19:01:48+08:00美联储（Federal Reserve，Fed）按兵不动：美国国债收益率下探与加息定价分化 https://chase-dream.cn/en/digests/fed_macro-20261030/NightIndexen2026-10-30T19:01:48+08:00Fed Hold Defers the Inflation Debate as the 2-Year Yield Falls 8.5 bp to 4.571% - December Hike Odds Straddle 70%-86.3%, While the 30-Year Hits 5.258% and a 5.5-Week Low https://chase-dream.cn/digests/global_macro-20261030-am/NightIndexzh-cn2026-10-30T08:07:49+08:00隔夜宏观：利率路径、能源供给与财政信号 https://chase-dream.cn/en/digests/global_macro-20261030-am/NightIndexen2026-10-30T08:07:49+08:00Tokyo Core Inflation Eases to 2.6% as Unemployment Drops to 2.4%, While the ECB Preserves Rate Optionality — BoJ Decision and Lagarde Succession Define the Next Policy Test https://chase-dream.cn/digests/global_macro-20261030/NightIndexzh-cn2026-10-30T19:05:44+08:00欧元区增长超预期，日本央行（Bank of Japan，BOJ）按兵不动：增长与通胀牵动政策 https://chase-dream.cn/en/digests/global_macro-20261030/NightIndexen2026-10-30T19:05:44+08:00Stronger Euro-Area GDP Meets 67% ECB Hike Odds as BOJ Holds at 1.25% - Sterling's 1.3432 Rally Meets Main UK Mortgage Rates at 6% https://chase-dream.cn/en/digests/hormuz-20261030-am/NightIndexen2026-10-30T08:09:07+08:00Unknown Projectile Hits Hormuz Tanker; Brent Settles at $114.88 as Flow Is Near 25% of Prewar: $90-$95 De-escalation Versus $120+ Escalation https://chase-dream.cn/digests/hormuz-20261030-am/NightIndexzh-cn2026-10-30T08:09:07+08:00霍尔木兹海峡油轮遇袭：油运与原油市场面临双向风险 https://chase-dream.cn/digests/hormuz-20261030/NightIndexzh-cn2026-10-30T19:08:35+08:00霍尔木兹油轮遇袭：油价、航运与谈判三条线 https://chase-dream.cn/en/digests/hormuz-20261030/NightIndexen2026-10-30T19:08:35+08:00Hormuz Attack Lifts WTI Above $102 and Brent Above $110 as VLCC Freight Hits $21/bbl - Attack Vector Remains Unresolved https://chase-dream.cn/digests/industrial_metals-20261030-am/NightIndexzh-cn2026-10-30T08:17:29+08:00工业金属隔夜观察：铜供给扰动与需求疑虑相撞，锡镍承压，铝相对坚挺 https://chase-dream.cn/en/digests/industrial_metals-20261030-am/NightIndexen2026-10-30T08:17:29+08:00Oyu Tolgoi Underground Shutdown Adds Potential Copper Supply Risk, Yet LME Copper Falls 1.04% as Tin Drops 3.47% — AI Demand Meets Rising U.S. Inventories https://chase-dream.cn/digests/industrial_metals-20261030/NightIndexzh-cn2026-10-30T19:17:46+08:00工业金属收盘复盘：价格、库存与供给三条线 https://chase-dream.cn/en/digests/industrial_metals-20261030/NightIndexen2026-10-30T19:17:46+08:00SHFE Copper Draws 9,744 t, Yet Tin Falls 5.8% — AI Demand Optimism Meets a 92,000 t 2027 Surplus https://chase-dream.cn/digests/precious_metals-20261030-am/NightIndexzh-cn2026-10-30T08:15:26+08:00金银隔夜承压：黄金盘中失守4010美元，白银跌超4% https://chase-dream.cn/en/digests/precious_metals-20261030-am/NightIndexen2026-10-30T08:15:26+08:00Gold Drops Below $4,010 as Silver Falls 3.4% and Hits an 11-Month Low: Strong Growth and Core PCE Revive Hike Pressure https://chase-dream.cn/digests/precious_metals-20261030/NightIndexzh-cn2026-10-30T19:15:30+08:00金银重挫：黄金失守3980美元，白银跌破51美元 https://chase-dream.cn/en/digests/precious_metals-20261030/NightIndexen2026-10-30T19:15:30+08:00Gold Tumbles to $3,965 as Silver Slips to $50.70 on Fed Hike Bets — 2027 Oversupply Risk Adds Pressure https://chase-dream.cn/en/digests/research-20261030-am/NightIndexen2026-10-30T08:13:46+08:00Fed's Hawkish Pause Keeps 25bp Hikes on the Table for December and March as Australia and New Zealand Bank Lifts Its Brent Forecast to $105, While Alphabet's $195-205bn Capex Pressures AI Risk Appetite - Dividends Defend https://chase-dream.cn/digests/research-20261030-am/NightIndexzh-cn2026-10-30T08:13:46+08:00隔夜晨报｜研报动态：利率预期、科技财报与A股风格 https://chase-dream.cn/en/digests/research-20261030/NightIndexen2026-10-30T19:13:04+08:00AI Platform Upside Meets a 15% CoreWeave Credit-Bond Yield and China's 15.5% Industrial-Profit Growth — The Bottom Is Still Unfinished https://chase-dream.cn/digests/research-20261030/NightIndexzh-cn2026-10-30T19:13:04+08:00政策分歧与商品线索：收盘后研报复盘