Fixed Income Daily Market Update Strong 4Q23 sales mixed with rising competition 3Q23 earnings a strong beat 3Q rev/np -4.6%/+4.7%; above market expectation Implications of Intel 3Q23: PC recovery, server destocking progress and new platform launches Profit may continue to beat in next few quarters 3Q NP dragged by investment setbacks; first-in-sector steady agent scale props up 2024 NBV Mazdutide (9mg) continues to show its BIC potential with 48-week results Fixed Income Daily Market Update 3Q23 earnings review: Weichai & Zoomlion beat; SANY Heavy & Jiangsu Hengli miss