海外研报

Patience and persistence pay off for Pampa Energia

Move to OW on scale, trajectory, fundamentals & strategyPampa Energiía has been able to maintain low leverage, high liquidity while still

Unique growth at very reasonable valuation, ignore quarterly noise

Q2 solid, Q3 good not great on Blackwell push-outWe reiterate our Buy rating on Nvidia (NVDA), a top sector pick, raising FY25/26E (roughly .

Banks & foreign investors buy while CTA demand peaking

Buying aboundsRecent weeks have seen buying flow from CTAs, investment funds, asset managers, banks, and even foreign investors. The bid for duration appears to be quite strong. While

ADP Employment Below Expectations

BOTTOM LINE: According to the ADP report, private sector employment increasedby 99k in August, below consensus expectations, and employment in July was

GS-- Housing Market Activity Scale

Mortgage Apps Rise While Other KeyData Points Flattish: The index held at