海外研报
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Significant CapEx ramp supported by strong early demand signals – F4Q24 Results
We reiterate our Buy rating and $515 PT following Microsoft’sF4Q24 results. The stock reversed some of its negative after-hours
海外研报
2024年08月01日
FOMC – Heavy thumb on September scale
EventThere was very little expectation of a monetary policy move, and today’s FOMC justified this expectation. As the press conference went on, Fed Chair Powell gave
海外研报
2024年08月01日
US Macro Strategy: July FOMC Preview Rate cuts priced-in, now what?
Evolving rate cut expectations: At the start of the year, there were a slew of cuts expected. However, a combination of higher Q1 inflation and hawkish Fedspeak pushed pricing to less than 2 cuts for all of
海外研报
2024年08月01日
USD and the Fed: how soon is now?
Asia overnightDespite a weak lead from US technology stocks, investor sentiment remained firm in Asia. China’s soft PMI data is encouraging investors to think more help for the
海外研报
2024年08月01日
BANK OF ENGLAND TAKES A SMALL LEAP OF FAITH
The MPC has delivered a 25bp reduction that takes Bank Rate to 5% in what is essentially an “insurance” cut.As mentioned in the minutes, “it is now appropriate to reduce slightly the degree of policy restrictiveness" while
海外研报
2024年08月02日
EURO CRISIS 2.0 – THE “CRISIS” AT THE CORE
There is talk of a new euro crisis, this time centred on core EMU countries like Germany and France. This fear is unwarranted. While low interest rates stimulated the EMU core during the
海外研报
2024年08月02日
