Assets

• Cross-assetToday's published research points to a "dollar wrecking-ball" setup: a hawkish Fed regime lifting US yields and the dollar while pressuring gold, crude, and tech-heavy equities.
• GoldGold's outlook splits sharply by time horizon, according to research published this week.
• SilverSilver's outlook splits cleanly by time horizon: research published this week is tactically bearish into late 2026, but a separate strand argues the long-term structural case is still intact.
• CopperCopper's bull case this week is entirely structural, not cyclical.
• OilCrude oil: the published research consensus this week leans bearish, with most analysts expecting Brent and WTI to grind lower as Middle East supply normalises.
• Natural gasPublished research is leaning bullish on natural gas — on both sides of the Atlantic, though for different reasons.
• BitcoinBitcoin's near-term setup is drawing cautious-bearish takes from technical analysts, with one published view pinpointing $58,890–$59,062 as the level that matters most.
• US equitiesUS equities sit in an interesting spot: published research is broadly constructive on the longer-term AI story but flags real near-term turbulence in tech.
• European equitiesToday's European equities read centers on a single, stock-specific bearish call: published research flags Innit for a sharply lower open after the company announced a post-close capital increase.
• US bondsPublished research this week leans heavily one way on US Treasuries: yields are headed higher, and bond prices lower. The lone caveat comes from a contrarian thread arguing bonds could rally if AI-driven growth…
• EUR/USDPublished research this week leans firmly bearish on EUR/USD in the near term, with a 1.12–1.10 zone flagged as the next downside target.

Macro

• Macro themesThree forces converged in macro commentary today: a hawkish Fed repricing, a global semiconductor sell-off tied to AI valuation worries, and the partial reopening of the Strait of Hormuz easing oil. Together they drove…