海外研报

FX View The big carry unwind is underway

The unwind is real but this morning’s moves are overdone. You can’t unwind the biggest carry trade the world has ever seen without breaking a few

Back Up To Moderately Overweight

After the abrupt cut to underweight last week,our measure ofaggregateequity positioning bounced to turn moderately overweight again (z score0.33, 63rd percentilel, but is still well below the mid-July highs at the top ofthe historical band. Discretionary

Google Ad Tech Vs. DoJ (Round Two)

The Key Take-Away: Google’s second monopoly trial starts next week in a VA district court. Incontrast to the Search trial and decision, we don’t think investors should worry too much about

GS--Airbnb Inc. (ABNB): Communacopia + Technology Conference 2024 — Key Takeaways

Presenters: We hosted CFO Ellie Mertz at the Communacopia + TechnologyConference.

GD--FED DID THE RIGHT THING, AND NOW THE FUN BEGINS

By finally easing and revealing its plan for a faster pace of cuts, the FOMC finally set loose a new set of marketdynamics to impact the economy – unless the path to recession is already fated. I do not believe recession is fated

GD--FED HELPS BUT EM EQUITY RISKS REMAIN

The Fed opens the door for reluctant EM amid disinflation and faltering growth◼ China and the dollar are now more serious risks to EM than a US recession

GS--China: Caixin services PMI fell in September

The Caixin China General Services Business Activity Index (headline services PMI)

GS-- costs edging down for beverage, dairy and pet food

In the monthly tracker, we track 40+ raw material price trends (including agriculture