本周将是引人注目的一周，美联储、欧洲央行和日本央行的利率制定者将宣布政策决定，同时投资者将评估Alphabet、亚马逊和微软的业绩能否推动人工智能（AI）反弹的下一阶段行情。
An eye-catching week is in store as rate-setters at the Federal Reserve, European Central Bank and Bank of Japan announce policy decisions, while investors will gauge whether results from Alphabet, Amazon and Microsoft can fuel the next leg of the AI rally.
巴西大选、中国最高层领导聚会以及备受关注的英国预算案，为议程增添了政治风险。
An election in Brazil, a gathering of China's top leadership and a closely watched British budget add political risk to the agenda.
以下是由驻纽约的Lewis Krauskopf、驻东京的Kevin Buckland以及驻伦敦的Dhara Ranasinghe、Marc Jones和William Schomberg为您带来的下周金融市场全览。
Here's all you need to know about the coming week in financial markets by Lewis Krauskopf in New York, Kevin Buckland in Tokyo, and Dhara Ranasinghe, Marc Jones and William Schomberg in London.
这将是央行密集的一周。美联储、加拿大央行和新西兰储备银行将于周三召开会议，欧洲央行于周四，日本央行则在一天后召开。
It's a packed week for central banks. The Fed, Bank of Canada and Reserve Bank of New Zealand meet on Wednesday, the ECB on Thursday, and the BOJ a day later.
在上个月收紧政策后，美联储、欧洲央行和日本央行面临的加息即时压力不大。
The Fed, ECB and BOJ face no immediate pressure to hike rates after tightening last month.
美联储主席Kevin Warsh将面临关于其利率前景看法的追问。欧洲央行势必会面对关于法国借贷成本飙升的提问，这有可能成为一个引爆点；而日本央行可能会在会后报告中上调通胀预测。
Fed Chair Kevin Warsh will be pressed on his view on the rate outlook. The ECB is sure to face questions about surging French borrowing costs that risk becoming a flashpoint, while the BOJ may raise its inflation forecasts in a post-meeting report.
市场预期加拿大和新西兰将加息以遏制通胀，所有政策制定者都在努力应对高油价在多大程度上会助推更广泛的价格压力。
Markets expect Canada and New Zealand to hike rates to contain inflation, with all policymakers grappling with the extent to which high oil will fuel broader price pressures.
美国企业财报将迎来重要一周，核心看点是推动股市上涨的巨大人工智能资本投资主题核心——三家最大公司的财报。
A big week for US corporate earnings will be headlined by reports from three of the largest companies at the heart of the huge AI capital investment theme that has driven up equities.
Alphabet (GOOGL.O)、微软 (MSFT.O) 和亚马逊 (AMZN.O) —— 所谓的三大“超大规模”公司 —— 将在投资者开始警惕数据中心支出风险之际发布业绩。
Alphabet (GOOGL.O), Microsoft (MSFT.O) and Amazon (AMZN.O) — three of the so-called hyperscalers — will post results at a time investors are becoming wary of the risks of the spending on data centres.
本周对于判断第三季度是否达到美国利润增长的高预期至关重要，届时约三分之一的标普500指数 (.SPX) 成分股公司将发布财报。
The week will be critical to determining if the third quarter lived up to high expectations for US profit growth, with about one-third of S&P 500 (.SPX) companies reporting.
其他备受瞩目的公司还包括制药商礼来 (LLY.N)、石油巨头埃克森美孚 (XOM.N) 和雪佛龙 (CVX.N)，以及工业设备巨头卡特彼勒 (CAT.N)。
Other high-profile firms set to report include drugmaker Eli Lilly (LLY.N), oil majors Exxon (XOM.N) and Chevron (CVX.N), and industrial equipment giant Caterpillar (CAT.N).
英国财政大臣约翰·希利将于周三公布他的首份预算案，届时他将试图为家庭提供一些缓解高额能源价格的纾困措施，但同时又不会通过增加借贷来扰乱债券市场。
British finance minister John Healey will announce his first budget on Wednesday, when he will try to offer some relief from higher energy prices to households, but without unsettling the bond market by ramping up borrowing.
这意味着希利可能不得不接受其满足财政规则的施展空间变窄。路透社调查的分析师认为，他可以将政策余地缩减近一半，降至约150亿英镑（合200亿美元），而不会吓坏市场。
That means Healey may have to accept a narrowing of his room for manoeuvre to meet his fiscal rules. Analysts polled by Reuters think he can allow his headroom to almost halve to around £15 billion ($20 billion) without spooking the market.
银行可能会承担增税的主要冲击，英国最大几家借贷机构的股价在希利备受瞩目的首次亮相前夕已经下跌。
Banks might bear the brunt of tax increases, and the share prices of Britain's biggest lenders have fallen in the run-up to Healey's high-profile debut.
国防、公共服务和福利等领域的更大开支决定可能会推迟到明年，希利希望到那时伊朗战争——以及它给政府借贷成本带来的压力——可能会有所减弱。以色列周二的大选有望成为该国历史上最具影响力的选举之一。
Bigger decisions on spending in areas such as defence, public services and welfare are likely to be put off until next year, with Healey hoping the Iran war — and the pressure it is putting on government borrowing costs — may have abated by then. Israel's election on Tuesday is poised to be one of the most consequential in the country's history.
民调显示选情难分伯仲，无论是总理本雅明·内塔尼亚胡领导的利库德集团阵营，还是以的前军事长官加迪·埃森科特为核心的反对派阵营，预计都无法赢得多数席位，这增加了进行漫长联合政府谈判的可能性。
Polls have it as a coin toss, with neither Prime Minister Benjamin Netanyahu's Likud bloc nor an opposition centred around former military chief Gadi Eisenkot expected to win a majority, raising the prospect of lengthy coalition negotiations.
然而对市场而言，这也是在以色列资产出现非同寻常的上涨之后发生的。自2023年10月7日袭击事件以来，特拉维夫股市（.TA125）已飙升逾135%，而以色列谢克尔则上涨了创全球纪录的25%。
Yet for markets, it also comes after an extraordinary rally in Israeli assets. Since 2023's October 7 attacks, the Tel Aviv stock market (.TA125) has surged more than 135%, while the shekel is up a world-beating 25%.
分析师迅速指出，鉴于以色列的技术专长，人工智能热潮一直是关键所在，并且也将继续如此。但投资者也看到，如果埃森科特及其盟友能够胜出，长期来看紧张局势有可能逐渐缓和。
Analysts are quick to point out the AI boom has been key, given Israel's tech expertise, and will remain so. But investors also see the potential for tensions to be gradually dialled down in the longer term if Eisenkot and his allies can win out.
中国最高领导层自周一起在北京集会，召开为期四天的五中全会，官员们正审议“深入推进全面从严治党”。这听起来可能属于内部事务，但中国官方评论将该倡议定位为一项旨在加强党纪和执行力的举措，以应对更加严峻的外部环境，其中包括日益紧张的美中关系以及中国获取先进外国技术受到的限制。
China's top leadership gathers in Beijing for the four-day Fifth Plenum from Monday, with officials deliberating on "Advancing Full and Rigorous Party Self-Governance." That may sound inward-looking, but official Chinese commentary frames the initiative as an effort to strengthen Party discipline and execution in response to a more challenging external environment, including an increasingly tense relationship with the United States and curbs on China's access to advanced foreign technology.
这并不是说北京在内部也没有面临挑战，国内需求长期低迷，且已被证明极难通过刺激措施加以扭转。
That's not to say Beijing doesn't face challenges at home too, with domestic demand stuck in a prolonged slump that has proved stubbornly resistant to stimulus efforts.