US 10-year Treasury yield rose 10bps intraday to 4.99%.

WALLER said the Fed needs to raise rates to put downward pressure on inf.

CUSTOMS said Jan–Oct private firms' imports and exports totaled 25.46 trillion yuan, up 20.1% YoY; foreign‑invested firms 13.15 trillion, up 20.4% YoY; state‑owned firms 6.12 trillion, up 19.1% YoY. Exports: electromechanical products 16.81 trillion yuan, +25.2% YoY; labor‑intensive goods 3.45 trillion, +2.4% YoY; agricultural exports 622.1 billion, +3.9% YoY. Imports: electromechanical products 8.17 trillion, +35.0% YoY; crude oil 400 million tonnes, -15.1% YoY; agricultural imports 1.29 trillion, +4.6% YoY.