海外研报

Americas Small Cap Research Summary

This summary is compiled from research reports previously published by Barclays Equity Research. A full list of all publications is available on

US Weekly Kickstart

The S&P 500 ended flat this week after partially recovering from the steep sell-off that started last Thursday and intensified on Monday. Weak

The Treasury cash-futures basis ischeap

The reason for these high expected returns-or, put slightly differently, thecheapness of the Treasury basis -likely stems from the recent increase in marketvolatility and ongoing concerns about funding pressure. As the chart shows,