Key global financial headlines from last night to this morning include:

1. **US Labor Market Slowdown Drives Treasury Bond Rally** US Treasury futures surged while the dollar weakened after ADP Research data signaled a cooling labor market. The 10-year Treasury futures rose, reflecting a roughly 4-basis-point drop in yields, which closed at 4.12% on Monday. Money markets also increased bets on Fed rate cuts, with swaps pricing in over a 60% chance of a December cut. The Bloomberg Dollar Index hit a monthly low, while the euro and yen strengthened.

2. **White House Economist Warns of Lost October Data Due to Shutdown** Kevin Hassett, Director of the National Economic Council, stated that the prolonged government shutdown may have permanently disrupted some October economic data collection, complicating assessments of US economic health. Surveys by agencies like the Bureau of Labor Statistics and Census Bureau were halted, raising concerns about delayed CPI and unemployment reports.

3. **SoftBank Offloads Entire NVIDIA Stake for $5.8B to Fund AI Projects** SoftBank Group sold its remaining NVIDIA shares for $5.83 billion to finance AI initiatives, including partnerships with OpenAI and Oracle. The move coincides with debates over whether massive tech investments will yield returns. SoftBank’s ADRs rose 7.2%, while NVIDIA shares fell 3.3% in US trading.

4. **AMD Forecasts 35% Annual Revenue Growth on Data Center Demand** Advanced Micro Devices (AMD) expects accelerated revenue growth over the next five years, driven by strong demand for its data center products. CEO Lisa Su projected annual AI data center revenue growth of 80% during the period. AMD’s shares have doubled this year amid deals with OpenAI and Oracle.

5. **"Dollar Smile" Theorist Predicts 14% Further Decline Under Trump** Stephen Jen, CEO of Eurizon SLJ, anticipates the dollar will weaken another 13.5% during Trump’s remaining term, citing overseas growth and Fed rate-cut expectations. The Bloomberg Dollar Index dipped after ADP’s weak jobs data reinforced dovish Fed bets.

6. **Bank of England Warns Against Looser Stablecoin Rules** Deputy Governor Sarah Breeden cautioned that relaxing stablecoin regulations could destabilize finance and trigger credit crunches. New UK rules cap individual holdings at £20,000 ($26,840) and mandate 40% reserve deposits at the central bank—criticized by crypto firms as overly restrictive.