Brazil Senate Fast-Tracks 2027 Savings Plan

Bank of America warns that October's higher-than-expected CPI (0.4% vs. 0.3% forecast) may force the Fed to raise rates more aggressively. Core CPI rose 0.3%, exceeding forecasts, with goods and services prices both contributing to inflation. BofA now expects a 0.25% rate hike in December, with a 0.50% hike becoming more likely. This could impact household budgets, stock markets, and corporate borrowing costs.

The Bank of Italy warns that Italy's planned tax hikes on the financial sector, totaling €5.9 billion ($6.5 billion) for 2027, increase uncertainty and may impact 2026 earnings. The government also plans to spread €20 billion in tax breaks over 10 years, which could affect liquidity and debt management. Intesa Sanpaolo's CEO Carlo Messina criticized the measure, comparing it to a 'South American approach' to debt management.

Quantum computing stocks, including D-Wave (QBTS), IonQ (IONQ), Rigetti (RGTI), Quantum Computing (QUBT), and Quantinuum (QNT), are falling in premarket trading. This decline is attributed to a broader tech selloff, rising Treasury yields, and mixed earnings results. D-Wave leads the declines with a 3.94% drop. The sector has faced steep losses over the past three months, with companies reporting varied financial performances.

Japan's producer prices rose 7.1% in October, above forecasts, increasing pressure on the Bank of Japan to raise interest rates in December. A rate hike could impact global markets, particularly US stocks and Bitcoin, due to the yen carry trade. Japan's holdings of US Treasuries may also be affected. Economists are divided on the likelihood of a December hike.

The 2-year Treasury yield rose 17 basis points to 4.73% on November 10, 2026, its largest jump in 19 months. This followed a hawkish Fed speech and higher-than-expected core inflation data. The iShares 1-3 Year Treasury Bond ETF (SHY) fell 0.33% to $81.32, while the iShares 20+ Year Treasury Bond ETF (TLT) dropped 1.32% to $80.88. Futures now price a 91% chance of a 25-basis-point December rate hike.

Zcash (ZEC) dropped below $1,000, falling 12.7% in 24 hours, as broader crypto market weakened after hotter-than-expected U.S. CPI data. Bitcoin (BTC) fell below $73,000, while Ethereum (ETH) approached $2,000 before modest recovery. ZEC's decline was among the sharpest among large-cap assets.