海外研报

2H keeps winning after a positive 1H

SPX is stronger in 2H after a positive 1HThe S&P 500 (SPX) rallied 14.48% in the first half (1H) of 2024, which is the 16th best 1H return for all years going back to 1928. When the SPX rallies over the first six months

Global Fixed Income Markets Weekly

• Summary performance statistics for trades closed in 2022-2024• Covering Europe, UK, Scandinavia, Japan and Australia/New Zealand trades

Asia Open - Mind the unwind, from USDJPY to US stocks

Consensus trades took a hit Wednesday, as seen by the sell-off in USDJPY (-1.3%) and Nasdaq (-2.5%). A combination of

China: O&A on the third plenum

WVhy is the third plenum getting so muchmnarKetatentlolThe Chinese economy is facing myriad headwinds. Some are cyclical, some are deep-seated structural problemswhich can only be addressed by structural reforms.

USA | Equity Strategy

We updated our Manager Holdings for Long Only investors, and it hadimplications for a number of Hedge Fund portfolios. We updated Uber Crowded,

F3Q24 preview: Apple Intelligence and the iPhone replacement cycle

We expect AAPL to deliver an EPS beat in F3Q24E with $85.1 bnof revenue (+4% yoy) and EPS of $1.36 (v. FactSet consensus$1.33).

Asia-Pacific Portfolio Strategy: Asian equity market daily update

The MXAPJ Index dropped 0.4% today. Indonesia and Philippines marketsoutperformed, while Taiwan and Korea markets underperformed. Within MXAPJsectors, Cons Stap and Energy led while Info Tech and Industrials lagged. MSCI

Ocean Rates Rise But What’s Driving? Impacts Possible for transports and Broader Supply Chain

Bottom line: Ocean rates have increased 3.5x and 4.5x per container on theeast coast and west coast, respectively, since the Red Sea disruption began in

USD: Trump vs Powell vs Trump

Investor sentiment was given a boost by FOMC Chair, Jerome Powell, expressingcautious confidence that US inflation has resumed a downward path, which led tosome pullback in UST yields. Curbing investor sentiment in Asia, however,

10-year GBs above 1% is dampeningapanese demand for US Treasuries

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