海外研报

GD--GDP: SHIFTING GROWTH DRIVERS RAISE THE NEED FOR LOWER INTEREST RATES

fter all the economic volatility of the past several years, the annualized pace of real GDP growth since 2019 ends up the same as in the prior cycle (2007-19) – but with a very different

GS-- Communacopia + Technology Conference 2024 — Key Takeaways

Company remains well positioned following GTM verticalization:Management discussed their initial success around the relatively recent GTM

GS--A structural growth business

We downgrade MS to Neutral from Buy, with a $105 price target, with 7%upside (vs. 12% for our coverage), and 11% total return, inclusive of a 4%

GS-- 2024 spending intentions dip marginally, but Gen-AI sees budget allocation strengthen

Our survey of CIO spending intentions for 2H2024 shows a marginal dip fromthe January 2024 survey that had inflected positively from March 2023’s low

GS--Trade growth peak; East Coast strike risk; Airline fares

Trade growth slowing, converging down to GDP growthWe flagged in our Jul-24 edition trade growth peaking in the

GS--Asia-Pacific Portfolio Strategy: Asian equity market daily update

The MXAPJ Index was flat today. Malaysia and Singapore markets outperformed,while Korea and Hong Kong markets underperformed. Within MXAPJ sectors, Cons

DR--Labor market: Not enough chill to heat up cuts in September

Weather workers” series normalized after the spike in

GD--TRUMP-HARRIS DEBATE HAS A 'WINNER' - WHAT NEXT?

Betting markets have, by and large, declared Vice President Kamala Harris the victor of the first combativeTrump-Harris presidential debate (Polymarket, +6pp / PredictIt +8¢ to Harris) – but how much will this matter? 

BJ--S&P 500 Futures Intraday Roll Cost Monitor

Intraday on Sep 10, the S&P 500 e-mini futures roll traded 70bps (VWAP) to Fed Funds using bottom-up divsThe volume weighted roll cost for the quarter is 73bps rich

GS--Americas Telecom Services: Communacopia + Technology Conference 2024

Presenters: Andrew Lipman, Partner, Morgan LewisBottom line: We have three key takeaways: (1) Mr. Lipman believe the FCC will