海外研报

MORNING BRIEFING INTERNATIONAL MARKET INTELLIGENCE

Asia Trade: APAC stocks (0.8%) continued their recent rebound this moring. in Japan, NKY(1.296) recovered from carly losses and was boosled by Uchida's commenls that BOJ

Macro2Market Views Post the MacroMania

The super-macro week of late July/early August led to a volatile adjustment in pricing and positioning. As the dust settles, we remain vigilant and unconvinced that the coast is clear.

Global Strategy Weekly

What just happened? Don’t look Ethel The FT’s ever-excellent Rob Armstrong sums up the current turmoil nicely in hisUnhedged column, arguing that the recent rout has been driven by a combination of:

Market Intelligence: US Morning Update

Stocks in Asia were mixed, but with a negative bias, on Thursday. Mainland Chinaand Hong Kong markets ended flat, while Taiwan (-2%) and India (-0.6%) ended

Decompression Creates Opportunities in Asia HY

The path of Asia credit spreads followed the macro marketsover the past week, with spreads under pressure at the start

Food for Thought: Sector Selection for Rate Reduction

Over 13 rate cutting cycles stretching back to the 1980s,Healthcare and Staples outperformed most consistently over

Initial claims see more normalization

Initial jobless claims declined last week, driven in part byoutsized drops in Michigan and Texas. Last week's reading of

US July CPI preview: Further easing

We expect US core CPI to extend its recent run of favorable prints with a 0.19% m/m gain in July (report released on 14 August). • We see risks as roughly balanced and pertaining to shelter, with

Follow The Flow Nonstop inflows into credit

Withstanding headwindsDespite markets drastically repricing over the last week, credit funds recorded strong

Global Economic Weekly Unwarranted panic

Weaker than expected US payrolls last week unleashed a market headwind that peaked this Monday. At peak, the rates market priced 140bp of Fed cuts by year-end, effectively