https://chase-dream.cn/digests/ai-20261113-am/NightIndexzh-cn2026-11-13T08:18:25+08:00人工智能（Artificial Intelligence，AI）隔夜晨报：英伟达临时换帅，业绩能否托住市场情绪 https://chase-dream.cn/en/digests/ai-20261113-am/NightIndexen2026-11-13T08:18:25+08:00Cerebras’ $230.9 Million Core Revenue Beat and Applied Materials’ 53% Sales Jump Land as Nvidia Suffers a $182 Billion Market-Cap Loss — OpenAI Capacity Constraints Put Leadership at the Center of the AI Compute Trade https://chase-dream.cn/en/digests/ai-20261113/NightIndexen2026-11-13T19:12:22+08:00Huang Exit Exposes $3 Billion of China AI Projects as SemiAnalysis Sees Over 70% of Global Capacity Potentially Shifting to Non-Nvidia Rivals by 2028 - A 7% SpaceX-Hire Probability Is the Side Thread https://chase-dream.cn/digests/ai-20261113/NightIndexzh-cn2026-11-13T19:12:22+08:00黄仁勋离任与国产算力验证：产业主线切换 https://chase-dream.cn/digests/cn_macro-20261113-am/NightIndexzh-cn2026-11-13T08:04:55+08:00稳市工具扩容与外资增配提速 https://chase-dream.cn/en/digests/cn_macro-20261113-am/NightIndexen2026-11-13T08:04:55+08:00Third Swap-Facility Batch Expands as Foreign Allocation Deepens: RMB Holds 6.6745, but a RMB 100 Billion Facility, 71 Convertible Issues and New Derivatives Rules Put Execution on Trial https://chase-dream.cn/digests/cn_macro-20261113/NightIndexzh-cn2026-11-13T19:05:33+08:00金融结构切换与油市供给修复并行，信用与柴油留下悬念 https://chase-dream.cn/en/digests/cn_macro-20261113/NightIndexen2026-11-13T19:05:33+08:00China’s Credit Mix Tilts Toward Government Financing as RMB Loans Fall CNY100 Billion, While Oil Supply Recovers but Diesel Stays 77% Above Pre-War — Liquidity Support Meets an Uneven Recovery https://chase-dream.cn/en/digests/fed_macro-20261113-am/NightIndexen2026-11-13T08:02:05+08:000.4% Core Breadth Ex Used Cars and Housing Builds a Hike Case as the 30-Year Yield Jumps 10 bp to 5.45% — Hike Pressure Meets a 2.36x Auction Supply Test https://chase-dream.cn/digests/fed_macro-20261113-am/NightIndexzh-cn2026-11-13T08:02:05+08:00隔夜市场与美联储政策信号 https://chase-dream.cn/en/digests/fed_macro-20261113/NightIndexen2026-11-13T19:02:33+08:00Hawkish Fed Repricing Lifts the Two-Year Yield to 4.8920% and Leaves the 10-Year at 5.13% — Dollar Near a 19-Month High as Yen Tests 160 https://chase-dream.cn/digests/fed_macro-20261113/NightIndexzh-cn2026-11-13T19:02:33+08:00美债主导白盘：市场重估加息路径 https://chase-dream.cn/en/digests/global_macro-20261113-am/NightIndexen2026-11-13T08:11:34+08:00UK’s 0.7% q/q Growth Meets a 4.98% Two-Year Yield as Markets Price 78 bp of BoE Hikes — Eurozone Sovereign Risk Faces a $100 Oil Test https://chase-dream.cn/digests/global_macro-20261113-am/NightIndexzh-cn2026-11-13T08:11:34+08:00隔夜全球宏观：英国利率预期偏鹰，欧元区高负债国家债券风险分化加剧 https://chase-dream.cn/digests/global_macro-20261113/NightIndexzh-cn2026-11-13T19:07:49+08:00欧元区增长达标、预算推进，日本与澳洲政策预期分化 https://chase-dream.cn/en/digests/global_macro-20261113/NightIndexen2026-11-13T19:07:49+08:00Euro-Area Growth In Line at 1.3%, German Committee Clears EUR561bn Budget Hurdle, but Japan’s +0.1% q/q Estimate Keeps BOJ Hikes in Play https://chase-dream.cn/digests/hormuz-20261113-am/NightIndexzh-cn2026-11-13T08:14:31+08:00霍尔木兹海峡（Strait of Hormuz）风险再起：原油冲高，航运绕行 https://chase-dream.cn/en/digests/hormuz-20261113-am/NightIndexen2026-11-13T08:14:31+08:00Brent Tops $95 as Hormuz Attacks Revive Supply Fears — Yet Tanker Traffic Hits a Wartime High as Trump Says No Iran Deal Is Needed https://chase-dream.cn/en/digests/hormuz-20261113/NightIndexen2026-11-13T19:09:52+08:00Global Supply Exceeds Demand at 105.4 mb/d as European Diesel Prices Stay 77% Above Pre-War - Hormuz Mine Strike Tests the Recovery https://chase-dream.cn/digests/hormuz-20261113/NightIndexzh-cn2026-11-13T19:09:52+08:00霍尔木兹海峡（Strait of Hormuz）：供应回流与袭船风险拉锯 https://chase-dream.cn/en/digests/industrial_metals-20261113-am/NightIndexen2026-11-13T08:25:30+08:00November Aluminum Longs Exceed All 226,350 Tons of LME Deliverable Stock as the Squeeze Holds Despite a 1.58% Drop to $3,030 — Copper Weakness and Partial Refinery Recovery Temper a Complex-Wide Bull Case https://chase-dream.cn/digests/industrial_metals-20261113-am/NightIndexzh-cn2026-11-13T08:25:30+08:00工业金属隔夜：铝库存仍紧，铜价跌至四个月低位 https://chase-dream.cn/digests/industrial_metals-20261113/NightIndexzh-cn2026-11-13T19:21:24+08:00工业金属收盘复盘：铜铝承压，镍的供给矛盾待验证 https://chase-dream.cn/en/digests/industrial_metals-20261113/NightIndexen2026-11-13T19:21:24+08:00Copper Breaks $13,500 as Goldman's $15,400/t 2027 View Meets a 500 t Stock Build — Lithium +4.00%, Aluminum Supply Returns https://chase-dream.cn/en/digests/precious_metals-20261113-am/NightIndexen2026-11-13T08:23:28+08:00Spot Gold Below $3,860 and Silver Below $50 as Fed-Hike Fears Push the 10-Year Yield Near 5.00% — Potential $3.3B Rebalancing Bid Offers a Counterweight https://chase-dream.cn/digests/precious_metals-20261113-am/NightIndexzh-cn2026-11-13T08:23:28+08:00黄金（Gold）、白银（Silver）隔夜重挫，今晨仍需防范进一步下行 https://chase-dream.cn/en/digests/precious_metals-20261113/NightIndexen2026-11-13T19:18:54+08:00Fed Hike Bets, a Firm Dollar and Oil Pressure Gold Below $3,900 Before a Reversal to $3,920, While Silver Tops $50.56 — One-Year-Low Gold Leaves the Rebound Unproven https://chase-dream.cn/digests/precious_metals-20261113/NightIndexzh-cn2026-11-13T19:18:54+08:00金银低位反弹与国内收盘分化：外盘收复3900美元，白银收盘承压 https://chase-dream.cn/digests/research-20261113-am/NightIndexzh-cn2026-11-13T08:20:54+08:00隔夜研报晨读：科技交易降温，跨资产配置线索升温 https://chase-dream.cn/en/digests/research-20261113-am/NightIndexen2026-11-13T08:20:54+08:00AI Capex Underpins Goldman’s 8% U.S. Fixed-Investment Call as Nvidia Targets Fall to $174-$200 — Rate-Sensitive Shorts and Governance Risk Complicate the Payoff Test https://chase-dream.cn/digests/research-20261113/NightIndexzh-cn2026-11-13T19:16:39+08:00研报主线与悬念：铜、利率、科技盈利与内需再定价 https://chase-dream.cn/en/digests/research-20261113/NightIndexen2026-11-13T19:16:39+08:00Goldman’s 4.6% End-2027 Yield Forecast Faces a 5.12% Starting Point as China’s Growth Handoff Shifts to Household Demand - Hang Seng Tech’s 8.3% Pullback Keeps the Rate Test Central https://chase-dream.cn/digests/ai-20261112-am/NightIndexzh-cn2026-11-12T08:10:47+08:00人工智能（Artificial Intelligence，AI）隔夜晨报：治理风波与算力链反弹并行 https://chase-dream.cn/en/digests/ai-20261112-am/NightIndexen2026-11-12T08:10:47+08:00Nvidia’s Reported Leadership Shock Fractures the AI Rally: After-Hours Drop Exceeds 10% After Nasdaq 100 Gains 2%, While CoreWeave’s 168% Revenue Growth Keeps the Infrastructure Bull Case Intact https://chase-dream.cn/en/digests/ai-20261112/NightIndexen2026-11-12T19:14:31+08:00Nvidia’s 7% Governance Shock Hits the AI Stack as TSMC Approves $41bn and Omdia Sees $200bn of AI Software Revenue — Leadership Risk Meets Expansion https://chase-dream.cn/digests/ai-20261112/NightIndexzh-cn2026-11-12T19:14:31+08:00英伟达治理危机牵动人工智能（Artificial Intelligence，AI）交易，广告覆盖扩大与资本开支扩张并行 https://chase-dream.cn/digests/cn_macro-20261112-am/NightIndexzh-cn2026-11-12T08:03:03+08:00隔夜稳市与资本补充：今日开盘线索 https://chase-dream.cn/en/digests/cn_macro-20261112-am/NightIndexen2026-11-12T08:03:03+08:00Swap-Facility Buying and RMB 200bn Buyback-Quota Filings Cushion Risk as the Yuan Holds 6.6749 — 83.1% Private-Fund Positioning Leaves Little Cushion https://chase-dream.cn/en/digests/cn_macro-20261112/NightIndexen2026-11-12T19:08:36+08:00SMIC Profit Jumps 87.6% as Medium- and Long-Term Funds Net Buy Over RMB600 Billion of A-Shares, While Auto Sales Fall 9.2% in October - Earnings Strength Meets a Soft Demand Print https://chase-dream.cn/digests/cn_macro-20261112/NightIndexzh-cn2026-11-12T19:08:36+08:00中国宏观：创新激励、需求分化与资金动向 https://chase-dream.cn/digests/fed_macro-20261112-am/NightIndexzh-cn2026-11-12T08:01:22+08:00通胀推升加息预期，美元走强与10年期收益率破5%风险并存 https://chase-dream.cn/en/digests/fed_macro-20261112-am/NightIndexen2026-11-12T08:01:22+08:00Hot October Inflation Sends the 10-Year Yield to 4.99% and DXY to 102.86-102.95 as December Hike Pricing Builds — While a 50 bp Call and Consumer Strain Keep the Path Unsettled https://chase-dream.cn/en/digests/fed_macro-20261112/NightIndexen2026-11-12T19:04:50+08:000.3% Core-CPI Trigger Puts 50bp on the Table as the Base Case Sits at 25bp — 10-Year Yield Retests 5% and AI Shock Risk Complicates the Path https://chase-dream.cn/digests/fed_macro-20261112/NightIndexzh-cn2026-11-12T19:04:50+08:00美联储加息预期升温，政策沟通分歧扩大 https://chase-dream.cn/en/digests/global_macro-20261112-am/NightIndexen2026-11-12T08:06:18+08:00Dollar Extends Its Reach as CHF Drops 1% and USD/JPY Hits 159.563, While a BoE Hawkish Warning Meets Turkey Credit Relief https://chase-dream.cn/digests/global_macro-20261112-am/NightIndexzh-cn2026-11-12T08:06:18+08:00美元走强与全球政策财政信号分化 https://chase-dream.cn/en/digests/global_macro-20261112/NightIndexen2026-11-12T19:10:51+08:00UK Q3 Growth Accelerates to 0.7%, Germany Lifts 2026 Forecast to 1.3%, and Investors Lean Toward a December BoE Hike — BoJ Keeps Two-Way Optionality While Dollar Clears 103 https://chase-dream.cn/digests/global_macro-20261112/NightIndexzh-cn2026-11-12T19:10:51+08:00欧洲增长、日元信号与全球资本流向 https://chase-dream.cn/en/digests/hormuz-20261112-am/NightIndexen2026-11-12T08:08:49+08:00Reported Hormuz Mine Strike and Competing Missile Claims Put Shipping Safety at Systemic Scale as Brent Reaches $93.64 - Disruption Meets a 26% Saudi Output Rebound https://chase-dream.cn/digests/hormuz-20261112-am/NightIndexzh-cn2026-11-12T08:08:49+08:00霍尔木兹海峡（Strait of Hormuz）隔夜风险升温，油价上行与回落线索并存 https://chase-dream.cn/digests/hormuz-20261112/NightIndexzh-cn2026-11-12T19:12:39+08:00霍尔木兹海峡（Strait of Hormuz）：通航恢复与安全警报交织 https://chase-dream.cn/en/digests/hormuz-20261112/NightIndexen2026-11-12T19:12:39+08:00Two Tankers Halt Amid Reported Hormuz Explosions as India’s Gulf Imports Reach 2.10 mb/d, Yet Muted U.S.-Iran Hostilities Pull Oil Lower https://chase-dream.cn/digests/industrial_metals-20261112-am/NightIndexzh-cn2026-11-12T08:16:47+08:00工业金属（Industrial Metals）隔夜晨报：铝库存降至1990年以来最低，铜矿供应偏紧 https://chase-dream.cn/en/digests/industrial_metals-20261112-am/NightIndexen2026-11-12T08:16:47+08:00Aluminum Backwardation Hits $31.73/t as LME Aluminum Inventory Falls to Its Lowest Since 1990, While Shanghai Copper Slips 0.06% at 105,820 Yuan/t - Squeeze Meets Macro Pressure https://chase-dream.cn/en/digests/industrial_metals-20261112/NightIndexen2026-11-12T19:23:11+08:00Lithium Receipts Drop 1,551 as Shanghai Aluminum Gains 1.77%, but LME Copper Slips 1.04% to $13,673/tonne https://chase-dream.cn/digests/industrial_metals-20261112/NightIndexzh-cn2026-11-12T19:23:11+08:00工业金属复盘：铝镍收涨，海外铜与铁矿走弱 https://chase-dream.cn/digests/precious_metals-20261112-am/NightIndexzh-cn2026-11-12T08:15:27+08:00黄金失守4000美元、白银震荡，今晨聚焦4000美元关口 https://chase-dream.cn/en/digests/precious_metals-20261112-am/NightIndexen2026-11-12T08:15:27+08:00Gold Breaks $4,000 as a Fully Priced 25 bp December Hike Pushes Spot to $3,990; Silver Falls 1% to $51.48 — Central-Bank Demand Meets Dollar and Yield Pressure https://chase-dream.cn/en/digests/precious_metals-20261112/NightIndexen2026-11-12T19:20:11+08:00Gold Falls Through $4,000 to $3,930 as Hike Pricing and a Dollar Index Near 103 Pressure Bullion — Silver Drops 2% at $50.89 Despite Its 6% Rebound https://chase-dream.cn/digests/precious_metals-20261112/NightIndexzh-cn2026-11-12T19:20:11+08:00金银同步承压，3900美元与白银50美元关口成焦点 https://chase-dream.cn/digests/research-20261112-am/NightIndexzh-cn2026-11-12T08:13:45+08:00隔夜研报：通胀扰动利率预期，科技投资转向精选与现金流验证 https://chase-dream.cn/en/digests/research-20261112-am/NightIndexen2026-11-12T08:13:45+08:00AI Narrows From a Narrative Trade to an Earnings-and-Cash-Flow Test: CoreWeave’s Target Drops From $150 to $100 and Nvidia Leaves Two Top-Pick Lists — Ratings Stay Constructive https://chase-dream.cn/digests/research-20261112/NightIndexzh-cn2026-11-12T19:17:12+08:00研报动态：资金、利率与人工智能产业链 https://chase-dream.cn/en/digests/research-20261112/NightIndexen2026-11-12T19:17:12+08:00Retail ETF Inflows Cushion AI Trades as Hot CPI Lifts 25bp December Hike Odds to 90% and 387 GW of Data-Center Capacity Looks Non-Credible