AI stock sell-off spills over to credit markets, SoftBank leads declines in Asian dollar bonds.

，据主流 CEX 平台稳定币理财收益数据显示，USDT 方面，Bitget 活期 0-1,000 USDT 档收益率为 12%，超额部分为 4%；Binance 活期 0-1,000 USDT 档为 11.67%，超额部分为 3.67%；OKX 活期为 5.45%，已扣除 15% 费用。HTX 7 天定期为 10%，额度上限 2,000,000 USDT。USDC 方面，Binance 活期 0-10,000 USDC 档收益率为 9.33%，超额部分为 2.33%；Bitget 活期 0-300 USDC 档为 6.66%，超额部分为 1.36%；OKX 活期为 2.91%，已扣除 15% 费用。HTX 7 天定期为 10%，额度上限 2,000,000 USDC。整体看，USDT 小额活期档由 Bitget 的 12% 居首，但超额部分回落至 4%；USDC 小额活期档则由 Binance 的 9.33% 领先，整体收益来看以 HTX 平台收益较高，但需注意 HTX 数据为 7 天定期产品，与其他平台活期产品的流动性不同；申购前仍应核对分档额度、计息规则、费用及实时可用性。页面展示收益率不构成投资建议。

Galaxy Digital CEO Michael Novogratz has purchased 760,000 Class A shares of the company via Galaxy Group Funding ECI U LLC, with the total transaction value reaching approximately $9.9 million, translating to an average purchase price of around $12.98 per share. According to a Form 4 filing submitted to the U.S. Securities and Exchange Commission (SEC), the acquisition was split into two tranches: 528,757 shares at a weighted average price of $12.694, and 231,243 shares at a weighted average price of $13.632. Prior to this purchase, Galaxy’s stock fell roughly 7% on the Nasdaq on November 5 to hover near $13, after a ~17% drop the previous session, and down about 41% from its October 6 closing price. Amid this share purchase, Galaxy’s board of directors has approved an additional $200 million stock repurchase program; as of the third-quarter earnings disclosure date, the company had repurchased 9.8 million shares. Additionally, Galaxy’s adjusted EBITDA for its data center business reached $69 million in Q3, a sharp increase from $11 million in the second quarter.

U.S. October unemployment rate data will be released at 21:30 Beijing time. Here are institutional forecasts: - 4.1%: BNP Paribas, Capital Economics, Danske Bank, High Frequency Economics, Barclays, JPMorgan, Nomura Securities, UBS Group - 4.2%: ABN AMRO, Morgan Stanley, ANZ Bank, Bank of Montreal, Berenberg, Bank of America Merrill Lynch, Jefferies Group, Citigroup, Commerzbank, Daiwa Capital Markets, Goldman Sachs, Commonwealth Bank of Australia, HSBC Holdings, ING Group, Sumitomo Mitsui Banking Corporation, Deutsche Bank, National Bank of Canada, Pantheon Macroeconomics, Standard Chartered, Stifel, Spartan Capital, Allied Irish Banks, TD Securities, Wells Fargo, Reuters consensus - 4.3%: Mizuho Securities, Westpac Banking Corporation

The U.S. October non-farm payrolls data will be released at 21:30 Beijing time tonight. Institutional forecasts for the reading are as follows: 1. ABN AMRO: +35,000; Jefferies Group: +40,000; Mizuho Securities: +40,000; TD Securities: +40,000; Spartan Securities: +48,000 2. High Frequency Economics: +49,000; Barclays: +50,000; Julius Baer: +50,000; Moody's: +50,000; U.S. Bancorp: +50,000 3. Deutsche Bank: +55,000; Monex: +55,000; Bank of Montreal: +60,000; Commerzbank: +60,000; HSBC Holdings: +60,000 4. Morgan Stanley: +60,000; Stifel: +60,000; Sumitomo Mitsui Banking Corporation: +63,000; Citigroup: +65,000; DekaBank: +65,000 5. UBS Group: +65,000; Wells Fargo: +65,000; Australia and New Zealand Banking Group: +70,000; Berenberg Bank: +70,000; Capital Economics: +70,000 6. BNP Paribas: +70,000; Danske Bank: +70,000; Bank of America Merrill Lynch: +75,000; Fifth Third Bank: +75,000; JPMorgan Chase: +75,000 7. Goldman Sachs: +75,000; Société Générale: +75,000; ING Group: +75,000; Nomura Securities: +80,000; National Bank of Canada: +90,000 8. Standard Chartered: +90,000; DBS Bank: +100,000; Pantheon Macroeconomics: +100,000; Scotiabank: +100,000; Reuters consensus: +65,000

According to Bloomberg, despite U.S. Democrats sweeping control of Congress, the crypto industry did not suffer a comprehensive defeat in the midterm elections. Stand With Crypto, an advocacy group backed by Coinbase, said the pro-crypto camp has won 228 House seats and 19 Senate seats. Fairshake, the crypto industry’s largest super political action committee (super PAC), also announced it will continue supporting pro-crypto candidates in the 2028 elections. Notably, while Ripple remains one of Fairshake’s top donors, Ripple co-founder Chris Larsen donated $4 million to the campaign of former Senator Sherrod Brown—who has repeatedly criticized the crypto industry. Separately, data from U.S. consumer advocacy group Public Citizen shows that as of the first quarter of 2026, the crypto industry has allocated roughly $189 million to political action committees in this midterm election cycle, up from $119 million in the 2024 cycle. AI-focused super PACs have also contributed $72.3 million.

U.S. October unemployment rate and non-farm payroll data will be released at 21:30 UTC+8 tonight. The U.S. October unemployment rate is projected at 4.2%, and October’s seasonally adjusted non-farm payrolls are forecast to rise by 65,000.