Assets

• Cross-assetThe unwind of the Iran risk premium is now rippling through every asset class at once. With Hormuz reopening and Brent down more than 20% from its peak, cheaper oil is softening inflation, challenging the dollar bull…
• GoldGold sits in contested territory: published research is deeply split, with no consensus on where it goes next.
• CopperCopper: the published research this week points to one direction — up — but on a multi-year horizon, not a near-term trade.
• OilOil forecasts are sharply split — and the disagreement is really about timeframe.
• Natural gasPublished research this week leans bullish on U.S. natural gas, with a tactical case for Henry Hub pushing above $4.
• BitcoinBitcoin's outlook splits cleanly by time horizon: tactically shaky, structurally strong.
• US equitiesUS equities look constructive over the medium term, but the next 30-45 days could get bumpy as leadership rotates.
• European equitiesEuropean equities are drawing constructive attention this week, with two distinct bullish angles making the rounds in published research.
• US bondsUS Treasury yields are caught in a genuine tug-of-war, with published research split on where the 10-year heads over the next 6–18 months.
• EU bondsEuropean government bond yields look biased lower according to research published this week, with falling crude oil doing much of the work by easing near-term inflation worries.
• EUR/USDEUR/USD: the split isn't a real disagreement — it's a timing call.

Macro

• Macro themesThree macro stories dominated research desks this week: an uncertain but hawkish-leaning Fed, a fragile easing of Middle East risk, and an AI capex wave that's rewriting growth and inflation math.