加拿大10年期政府债券收益率升至3.42%以上，为四个多月来的最高点，因为通胀压力和经济韧性的迹象有利于中国银行不那么温和的前景，超过了向美国同行施压的避险行为。美国国债收益率正在下降，因为地缘政治紧张局势和对升级的担忧导致对避险资产的需求增加，超过了市场对美联储近期降息的预期下降。在加拿大，通胀压力加剧，10月份生产者价格指数环比上涨1.2%，为4月份以来最强劲的增长。早些时候的数据显示，消费者通胀超过了关键指标的预测，削减后的平均核心通胀率从9月份的三年低点2.4%攀升至10月份的2.6%。其他支持来自强劲的经济指标，包括意外的低失业率和强劲的PMI数据，降低了中国央行大幅降息的可能性。

The yield on Canada’s 10-year government bond rose above 3.42%, a more than four-month high, as inflationary pressures and signs of economic resilience favored a less dovish outlook for the BoC, outweighing a flight to safety that has pressured its U.S. counterpart. U.S. Treasury yields are falling as heightened demand for safe-haven assets, driven by geopolitical tensions and fears of escalation, outweighed the market's reduced expectations for near-term Federal Reserve rate cuts. In Canada, inflation pressures intensified, with producer prices rising 1.2% month-over-month in October, the strongest growth since April. Earlier data showed consumer inflation exceeding forecasts across key metrics, with the trimmed-mean core inflation rate climbing to 2.6% in October from a three-year low of 2.4% in September. Additional support came from robust economic indicators, including unexpectedly low unemployment and strong PMI data, reducing the likelihood of significant rate cuts by the BoC.

周四，标准普尔/多伦多证交所综合指数徘徊在25070点的水平之上，接近历史高点，主要金融服务公司和大宗商品生产商的涨幅抵消了领先芯片制造商英伟达第四季度收入前景不佳带来的情绪低落。加拿大皇家银行的表现优于大盘，股价上涨约1%，其次是保险巨头宏利，上涨1.3%。能源权重股森科尔、帝国石油、加拿大天然气和Cenovus在乌克兰-俄罗斯冲突紧张局势升级的情况下，油价上涨，交易价格稳步上涨。相反，道明银行暴跌近2%，限制了多伦多交易所的涨幅。在经济方面，10月份工业产品价格指数较上月上涨1.2%，同比上涨1.1%。与此同时，原材料价格指数环比上涨3.8%，从连续两次下跌中反弹。

The S&P/TSX Composite Index hovered above the flatline at the 25,070 level on Thursday, near record highs, as gains in key financial services companies and commodity producers offset dampened sentiment stemming from leading chipmaker Nvidia's underwhelming fourth-quarter revenue outlook. Mega-cap Royal Bank of Canada outperformed, with shares rising around 1%, followed by insurance giant Manulife, which added 1.3%. Energy heavyweights Suncor, Imperial Oil, Canadian Natural, and Cenovus traded firmly in positive territory as oil prices rose amid escalating tensions in the Ukraine-Russia conflict. Conversely, TD Bank slumped nearly 2%, limiting gains for the Toronto exchange. On the economic front, the Industrial Product Price Index climbed 1.2% in October compared to the previous month and was up 1.1% year-over-year. Meanwhile, the Raw Materials Price Index rose 3.8% monthly, rebounding from two consecutive declines.

2024年10月，加拿大工业生产者价格环比上涨1.2%，超过了市场预期的0.3%的涨幅，并从上个月修正后的0.8%的跌幅反弹。这标志着生产者价格在连续两个月下降后首次上涨，也是自4月以来最强劲的月度增长。这一增长主要是由于主要有色金属产品价格飙升5.5%，同时能源和石油产品（+2.5%）、木材和其他木制品（+1.3%）以及机动和休闲车（+0.3%）价格显著上涨。10月份，生产者价格指数在上个月修正后下跌1%后，每年上涨1.1%。

Industrial producer prices in Canada rose by 1.2% month-over-month in October 2024, exceeding market expectations of a 0.3% increase and rebounding from a revised 0.8% decline in the previous month. This marked the first rise in producer prices after two consecutive months of declines and the strongest monthly growth since April. The gain was primarily driven by a 5.5% surge in prices for primary non-ferrous metal products, alongside notable increases in energy and petroleum products (+2.5%), lumber and other wood products (+1.3%), and motorized and recreational vehicles (+0.3%). Yearly, producer prices rose by 1.1% in October, after a revised 1% fall in the previous month.

2024年10月，加拿大原材料价格指数环比上涨3.8%，从连续两个月的下跌中反弹，超过了1.5%的跌幅预测。这是自4月以来的最大涨幅，主要是由于原油能源产品价格上涨5.0%，特别是传统原油（+4.6%）和合成原油（+4.7%）。金属矿石、精矿和废料价格也上涨（+6.8%），其中黄金、白银和铂族金属矿石和精矿价格上涨（+7.2%）。与去年同期相比，RMPI下降了2.8%，标志着连续第三年下降，其中传统原油（-14.6%）和合成原油（-20.6%）是造成下降的最大因素，部分被贵金属矿石和精矿40.6%的增长所抵消。

The Raw Materials Price Index in Canada rose 3.8% month-over-month in October 2024, rebounding from two consecutive monthly declines and beating forecasts of a 1.5% decline. It was the largest increase since April, driven by a 5.0% rise in prices for crude energy products, particularly conventional crude oil (+4.6%) and synthetic crude oil (+4.7%). Prices for metal ores, concentrates, and scrap also climbed (+6.8%), led by gold, silver, and platinum group metal ores and concentrates (+7.2%). Year-on-year, the RMPI fell 2.8%, marking the third straight annual decline, with conventional crude oil (-14.6%) and synthetic crude oil (-20.6%) as the largest contributors to the drop, partially offset by a 40.6% rise in precious metal ores and concentrates.