据报道，中国开始放宽稀土出口限制，但不太可能兑现美国的承诺。据报道，中国已经开始设计一个新的稀土出口许可制度，希望能够加快未来的运输速度。然而，这仍然不太可能完全取消美国阵营所希望的限制。

China reportedly begins easing rare earth export curbs but unlikely to fulfill US promise.It is reported that China has already begun designing a new regime for rare earth exports licensing in hopes that it could speed up shipments down the road. However, that is still not likely to amount to a complete rollback of the restrictions that is hoped for by the US camp.

周五，随着投资者权衡最新疲软的经济数据，中国10年期政府债券收益率从上一交易日的近三个月低点反弹至1.75%。10月份出口8个月来首次下降，达到2月份以来的最低水平。尤其是对美国的出口量连续第七个月暴跌至25%以上，突显出双边贸易关系中持续存在的挑战。为了缓解贸易紧张局势，美国和中国同意将临时贸易休战再延长一年，这增加了人们对世界两大经济体之间贸易流量在年底前可能增加的希望。与此同时，进口增速为5月以来最低，低于市场预期，反映出国内需求持续疲软和劳动力市场潜在的不确定性。投资者现在等待本周末公布的通胀数据。

China’s 10-year government bond yield rose toward 1.75% on Friday, rebounding from a near three-month low in the previous session as investors weighed the latest weak economic data. Exports fell for the first time in eight months in October, hitting their lowest level since February. Shipments to the US, in particular, plummeted for the seventh consecutive month to over 25%, highlighting ongoing challenges in the bilateral trade relationship. In a move toward easing trade tensions, the US and China agreed to extend their temporary trade truce for an additional year, raising hopes of a potential boost in trade flows between the world’s two largest economies through the end of the year. Meanwhile, imports rose at their slowest pace since May and missed market expectations, reflecting continued weakness in domestic demand and underlying uncertainties in the labor market. Investors now await inflation figures, due this weekend.

避险统治：科技抛售、中国贸易小姐和美国裁员打击市场情绪。随着风险规避情绪的回归，全球市场再次转为防御性，科技股再次出现抛售浪潮。一夜之间震惊华尔街的美国科技股暴跌蔓延到亚洲，引发了整个地区股市的普遍疲软。

Risk-Off Reigns: Tech Selloff, China Trade Miss, and U.S. Layoffs Hit Sentiment.Global markets turned defensive again as risk aversion returned, led by a renewed wave of selling in technology shares. The U.S. tech rout, which rattled Wall Street overnight, spread to Asia, triggering broad weakness across regional equity markets.

随着关税前置效应的消退，中国10月份出口下降-1.1%。10月份，中国的贸易势头有所减弱，出口同比下降1.1%，远低于3.0%的增长预期，为2月份以来的最低水平。这些数字表明，早些时候的关税前期激增已经完全消散，暴露出外部需求的潜在脆弱性。

China exports fall -1.1% in October as tariff frontloading fades.China's trade momentum faltered in October, with exports contracting -1.1% yoy, far below expectations for a 3.0% rise and the weakest reading since February. The figures suggest that the earlier tariff frontloading surge has fully dissipated, exposing underlying fragility in external demand.