1. The IDF decided to send an additional reserve brigade to strengthen combat missions in the northern region. This move is to intensify the fight against Hezbollah, achieve conflict goals, and ensure the safe return of northern residents to their homes.

2. Putin said: Due to the rapid expansion of the size of the BRICS countries compared with Western economies, they will become the dominant force in world economic growth in the next few years. The BRICS countries include Egypt, Ethiopia, Iran, the United Arab Emirates, Brazil, Russia, India, China and South Africa.

3. France increases defense spending, citing#Russianthreats as reason to increase military budget by more than 3 billion euros in 2025, totaling 50.5 billion euros

4. Japan's inflation index slowed down for the first time in five months in September, so the Bank of Japan is expected to keep interest rates unchanged

5. Continuing from the previous point, Japan does not have an inflation problem for the time being, and of course there is no urgency to tighten, so concerns about the yen carry trade can come to an end for the time being. In the past few months, Japan's service industry inflation has been close to 0, indicating that there is almost no sign of inflation consolidation. The economy has been basically flat recently, and it is very necessary to maintain an easy monetary policy (Figure 1)

6. The Qing Dynasty's economic expansion slowed down in the third quarter, and additional stimulus is needed to achieve the 5% growth target. In the third quarter, the year-on-year growth was 4.6%, the weakest performance in 6 quarters. In September, retail sales increased by 3.2% year-on-year, industrial production increased by 5.4% year-on-year, and the unemployment rate was 5.1%.

The central bank also launched a special re-lending facility to help listed companies and major shareholders buy back shares, boosting market-supported optimism and pushing stocks higher.

7. From Bloomberg: Pan Gongsheng, governor of the People's Bank of China, pointed out that real estate and stock markets are the main challenges facing the economy and require targeted policy support (Figure 2)

8. $SPX has maintained an upward trend for 6 consecutive weeks, increasing by +8.2%. It seems that September and October are not as terrible as everyone imagined. However, since the beginning of last year, the US stock market has been flooded with

9. The scary thing is that the unrealized losses of US banks are 7 times what they were during the 2008 financial crisis. Compared with the amount of money creation that will occur in the next decade, the past global liquidity cycles look insignificant. Let us imagine that when the unrealized losses become reality, the government will definitely choose to rescue securities, which essentially means that the era of big money printing will begin.

10. We have talked a lot about macroeconomics today, so let’s talk about Bitcoin #BTC☀️ . With the end of the third quarter, the US election in the fourth quarter, the inflow of Bitcoin ETFs, the accumulation of large investors, and the reduction of exchange balances, etc., are expected to be positive. Although the market has lowered its expectations for another rate cut in November, it is still very confident about $BTC in the fourth quarter, which is full of bullish trends.

Risk Tip: If inflation soars again, the Fed may suspend the 25BP rate cut, which will have a certain impact on Bitcoin's volatility.