Assets
- Cross-assetMacro research this week converged on one pivot point: the Strait of Hormuz. Whether it reopens shapes nearly every other call.
- GoldGold's week: a sharp technical break, with most published research leaning tactically bearish but structurally constructive.
- SilverSilver's washout dominated research this week, with analysts split between "buy the capitulation" and "more pain ahead."
- CopperCopper's structural bull case dominated the week, but late-stage cracks emerged.
- OilOil's narrative this week pivoted on one question: does a US–Iran deal reopen the Strait of Hormuz?
- Natural gasResearchers leaned bullish on natural gas this week, with the supply shock from Middle East disruption and structural AI/LNG demand dominating the narrative.
- BitcoinBitcoin had a rough week, and the published research mostly leaned bearish.
- European equitiesEuropean equities whipsawed this week as the Iran conflict drove sentiment, with research turning more constructive late in the week on hopes of de-escalation.
- US bondsUS Treasuries spent the week caught between a dovish "rates are too tight" camp and a hawkish "supply, sticky inflation, and a Fed Chair transition" camp — with no clean winner.
- EU bondsECB returns to tightening, and published research broadly sees more hikes ahead.
- EUR/USDEUR/USD spent the week pinned near the bottom of its 1.14–1.18 range before late-week research turned more constructive on the euro.