海外研报

Still Like Macau Gaming, Though More BB Than B

The shifting macro dialogue once again was the main driverof global markets. Recent concerns on US growth were

GS--AI – Strategist Deep Dive

With technology being the driving force of equity returns since the end of the GFC,investors have more recently questioned concentration risk and whether AI is a

SocGen - On Our Minds - ECB staff still on holidays. Bigger downward revisions likely ahead

Given the recent market volatility and re-pricing of rate cuts since the July meeting, today’s ECB press conference was surprisingly uneventful. A second cut was delivered as

Interest Rates Daily--Wins & losses

Long-building steepening momentum came to a halt last Friday as a higher-thananticipated NFP number impacted EUR markets too. Lower odds of hard landing

COMMERZBANK--CPI relief?

Fed: FOMC minutes show that "almost all" officials agreed that upside risks toinflation had diminished and a "substantial majority" supported the 50bp cut, while

2024Q2: Hardware Investment Grows, Barriers to Profitable Use Remain (Kodnani)

AI-related investment growth remains strong, particularly for semiconductorfirms, where equity markets expect revenue growth of around 50% from currentlevels by the end of 2025. Since the release of ChatGPT, equity markets have

GS--USA_ Core CPI Above Expectations

September core CPI rose 0.31% month over month, aboveexpectations. Owners’ equivalent rent slowed to 0.33% after last month’s 0.50%

Global Metals & Mining_ Rio Tinto agrees counter-cyclical cash offer to acquire Arcadium Lithium

Rio Tinto has announced an agreement to acquire Arcadium Lithium (Not Rated).According to Rio, this represents a counter-cyclical expansion aligned with its

Rabo--Sour grapes?

Sour grapes. According to the Cambridge Dictionary one of the ways to interpret this idiom is:‘bad behaviour that happens because someone is more successful’. Looking at the current state