Spot silver’s gains have widened to 2%, currently trading at $53.26.

US Treasuries are set to rise for a second consecutive trading day. The Democrats' sweeping victory in the midterm elections has fueled market expectations that the Trump administration's tax and spending plans could face constraints. Yields across all Treasury maturities fell by at least 3 basis points. The benchmark 10-year Treasury yield dropped to 4.84%, the lowest level since September 10. The U.S. Dollar Index declined 0.2%, after logging its largest single-day drop in two months in the prior session. George Bory, chief fixed income investment strategist at Allspring Global Investments, noted in a report: "The market seems to welcome the election outcome, as the power transition is smooth and orderly, and the future policy agenda is expected to become more moderate. Next year's fiscal deficit may narrow, which is good news for bond investors." The Democrats' sweeping win has injected vitality into the U.S. bond market. Market expectations suggest that if Trump faces greater hurdles advancing his spending plans, the scale of U.S. Treasury issuance may be limited. Source: Jinshi.

Moderna’s share price closed up roughly 13.1%, about 5.11% above its 52-week high set on October 21, pushing its market capitalization past $100 billion. The company is scheduled to release its third-quarter financial results on November 6, with market attention focused on its vaccine business and oncology therapy R&D progress. Key catalysts include: Moderna’s Ebola candidate vaccine mRNA-1469 was recommended by the WHO’s Technical Advisory Group to advance to Phase Ⅱ/Ⅲ trials, while early clinical data for its multiple myeloma candidate therapy mRNA-2808 was selected for an oral presentation at the American Society of Hematology (ASH) Annual Meeting. Per TradingBeats monitoring, the MRNA contract on Hyperliquid hit $268.31 earlier this morning, and was last trading at $257.05 at press time. Trading activity has also surged: Its 24-hour trading volume rose from around $20.48 million at the same time yesterday to $48.02 million, a 134.5% increase; nominal open interest grew by $6.11 million to $27.4 million, a 28.7% rise. The rally has pressured large short holders: The largest short position holder still holds around $11.58 million in MRNA shorts at an average price of $211, currently facing an unrealized loss of roughly $2.086 million.

According to TradingBeats monitoring, a crypto whale opened new long positions in SanDisk (SNDK), SK Hynix, and Marvell yesterday afternoon, followed by additional buys, totaling approximately $38.186 million in purchases. As of press time, the combined value of the three long positions stands at around $34.816 million, with an unrealized loss of roughly $3.37 million. The specific holdings are as follows: - SanDisk (SNDK): Position valued at ~$19.63 million, average entry price of $1,115.59, unrealized loss of ~$1.994 million; - SK Hynix (SKHX): Position valued at ~$7.992 million, average entry price of $1,040.75, unrealized loss of ~$0.647 million; - Marvell: Position valued at ~$7.194 million, average entry price of $171.94, unrealized loss of ~$0.729 million. Yesterday afternoon, these positions had a combined unrealized profit of about $290,000. After that, the whale added another ~$9.11 million in buys of SanDisk and SK Hynix, with no sales recorded since opening the positions. Additionally, Texas governor-elect Hinojosa has proposed a pause on new data center construction, introducing fresh policy uncertainty for AI infrastructure expansion; the proposal has yet to be implemented.

South Korea’s financial regulator will introduce a cornerstone investor system for initial public offerings (IPOs) to curb sharp post-listing stock price declines. The Financial Services Commission (FSC) stated that under the new regime, which secured government approval on Tuesday, institutional investors committing to lock up shares for a minimum of six months will be granted early IPO share allocations. The relevant rules will take effect on November 13 alongside amendments to the Capital Markets Act.

Beating AI News (Dongcha) reports that Chinese AI startup Moonshot AI has officially open-sourced the full model weights of its Kimi K3.1 Pro. The model was already rolled out for applications and APIs in late October; the released Hugging Face repository includes 96 weight shards with a total size of approximately 1.56 TB. Kimi K3.1 Pro inherits the custom licensing terms of its predecessor K3, permitting free use, modification, distribution, and commercial use, but with two special restrictions: 1. Large API service providers must sign a separate agreement: If an enterprise runs model inference or fine-tuning services, and its own and affiliated entities have combined total revenue exceeding $20 million over 12 consecutive months, it must sign an additional agreement with Moonshot AI prior to commercial use. 2. Ultra-large commercial products must label the model name: If a product using the model has over 100 million monthly active users (MAUs) or monthly revenue exceeding $20 million, it must prominently display "Kimi K3.1-Pro" on its interface. Pure internal use, or calls to the model via Moonshot AI’s official products and certified inference partners, are exempt from the above signing and labeling requirements. To mitigate cyberattack risks stemming from open weights, Moonshot AI removed cyberattack-related content from mid-training data and reinforcement learning tasks, actively restricting the model’s vulnerability exploitation capabilities. Official internal tests show the unmodified model (without these restrictions) achieved a 90.5% pass rate in vulnerability exploitation tasks after up to three attempts; the final released version cut this to 81.0%, which remains significantly higher than predecessor K3’s 33.3%.

Yilihua, founder of Liquid Capital, said in a post that Bitcoin (BTC) has now broken through $80,300 and stabilized above its 20-day moving average. To trigger a second major uptrend wave, BTC must next break through $82,600 decisively, after which it will target the strong resistance level of $86,000. If BTC clears $86,000, its subsequent target levels are $97,000 and $104,000. The recent pullback of BTC near $86,000 is a normal correction within the bull market trend, so even if he anticipates a pullback, he will not go short, as the market could rebound rapidly at any time. He added that he began buying the dip when BTC was near $77,000, but missed part of the rebound due to external factors disrupting trade execution.