�      The US traded higher into the keenly awaited NVDA print with the AI trade outperforming as reviews of GOOGL's Gemini 3.0 lifted the space. �      Treasuries gained and equities saw a slight fade on the FOMC print as minutes leant in favour of the hawks with a view to keep rates 'steady' into year end. BLS cancelled the release of the Oct jobs report. �      Currently around a 30% chance of a cut. �      Consumer earnings reasonably well received and overall a lack of appetite to reduce positions ahead of a big 24hrs for markets.  �      Volumes light again. Breadth poor. Momentum > Growth > Value.  �      Tech, Comm Services and Materials outperformed, while Energy, Real Estate and Staples lagged.  �      NVDA higher in post trade as numbers beat and sales are �off the charts' � Strong forecasts for rev and margins and more upgrades to come. �      AsiaPac is taking its lead from the US with Japan the notable performer. �      Chinese property plays are higher on further easing hopes. �      Fed bets retreat further. �      The greenback held its gains against majors and EMFX � ZAR c17.20. �      Pared bets on cuts drove yields higher � US2y 3.6/US10y 4.13. �      The recent move in the yen and JGBs means something has got to give � yields on 5y and 10y rose to highest lvls since 2008. �      Commodities are mixed, gold is marginally lower while the rest of the basket is higher. �      Its MPC today, and a cut is baked in.   �      The rand is stronger this morning, at R17.20/$, after closing weaker yesterday (R17.24/$*).   Key events and data:  �      15h00: SA SARB interest rate decision � 25 bps cut expected �      15h30: US initial jobless claims (15 November), non-farm payrolls (September), unemployment rate (September), average hourly earnings (September) �      17h00: Eurozone consumer confidence (November) �      17h00: US existing home sales (October)