Assets

• Cross-assetMarkets are stress-testing the "strong dollar, higher-for-longer" regime — not abandoning it. That's the dominant thread running through this week's published research.
• GoldPublished research on gold leans bullish, but conviction isn't universal.
• SilverSilver's near-term setup looks constructive, according to research published this week.
• OilPublished research this week leans heavily bearish on crude, with most analysts expecting Brent and WTI lower across short, medium, and longer horizons.
• BitcoinBitcoin's outlook is genuinely split in this week's published research — no consensus, just two well-argued opposing frameworks.
• US equitiesUS equities look broadly constructive heading into year-end, but published research is split on how much room is left — especially in AI names and at the index level.
• European equitiesEurope's equity signal today is narrow but specific: published research is flagging German defence name Rheinmetall as attempting a recovery after a sharp drawdown.
• US bondsPublished research this week leans bearish on US Treasuries, with the long end under the most pressure and curve steepening a recurring theme.
• EU bondsEuropean rates research is coalescing around one idea: most of the ECB's tightening is now in the price, and eurozone bonds are starting to look better value than US Treasuries.
• EUR/USDPublished research is leaning bearish on the euro in the near term, with several recent analyses pointing to further downside against the dollar before any recovery takes hold.

Macro

• Macro themesTwo forces are shaping global macro right now: a data-dependent Fed after a soft June jobs report, and oil giving back its geopolitical risk premium as the Strait of Hormuz reopens.