海外研报

GD--COMMODITIES: IS THE AUTUMN RALLY ‘REAL’?

Shifting macro currents have lifted the mood for commodities, removing the excess pessimism that built over the summer and reviving hopes for a pickup in global demand.

FX--About the relationship between oil prices, inflation and rate expectations

About the relationship between oil prices, inflation and interest rate expectations //New Zealand central bank is stepping up the pace // PLN, CZK, HUF: Signs ofrecovery // Not much new from the Mexican inflation data?

BofA Equity Vol Insights - Nervous Vol Still Underprices Election Week

Stressed vol still underprices rare election + FOMC weekUS equity vol has become notably stressed in recent days with geopolitical risks rising and the US election approaching. The VIX trades at a 14-point premium to S&P realized

BofA_FX Viewpoint FX flows & positioning in Q3_20241009

Market overview: Hedge Fund USD selling vs. EM FXBofA investors ended Q3 slightly long USD, neutral rest of G10 FX, and marginally short

BofA_Liquid Insight ECB- from how fast to how far_20241009

Key takeaways• The ECB seems to have opened the door to back to back cuts. This potentially answers the question of how quickly they cut.

BofA_US Viewpoint September CPI FAQ- expected report should create scope for dip buying_20241009

0.3% CPI = more bark than biteWhile knee-jerk the market may initially bear flatten with a MoM core 0.3% CPI print, we

GS--China Optical Transceivers_ 3Q Preview

Optical Transceiver makers (Innolight, Eoptolink, HG Tech, TFC Optical) in ourcoverage are scheduled to report 3Q results during Oct 22~Oct 24. We expect

GS--China: Tourism data showed largely stable momentum during the National Day Golden Week

Bottom line: Tourism data during the National Day Golden Week showed largelystable growth momentum in the hospitality sector vs previous long holiday, with