海外研报

MSFT Partner Survey; SMiD Internet; APPF, CFLT, QCOM, TENB, VRNS, XRX

The current market rotation appears to be in its final stages. Today, the market saw outperformance in Growth(.PGPURE) and Quality (.JPOPURE) sectors, indicating that the rotation is nearing its end. This rotation is primarilydriven by crowding

China data preview: a weak start to H2 2024

Slowing industrial production: The production subindexes of both official and Caixin manufacturing PMI slowed in July, signalling a

Gold to get its medal

The Fed’s cutting cycle, when it begins, will attract strategic investment in gold. We have lifted our year-end price target for gold to USD2,550/oz.

THE UNITED STATES ECONOMIC MONITOR

We look for a 0.13% rise in the July core PCE deflator, implying downside risk to the 0.2% consensus.Real consumption probably rose by 0.3% in July,