Assets
- Cross-assetWeekly macro recap: a soft US jobs print reshaped the rates and FX picture, but researchers are split on where risk assets go next.
- GoldGold's rough quarter met a late-week pivot as softer US data revived the bull case.
- SilverSilver: near-term wobble, but the multi-year bull case is getting louder.
- CopperCopper research skewed decisively bullish across the week, with multiple structural tailwinds converging in the published notes.
- OilOil's post-conflict reset dominated the week: research broadly sees crude prices past their peak as the US-Iran deal normalizes Gulf flows.
- Natural gasNatural gas told a two-track story this week: European prices under pressure from easing geopolitics, while structural tightness kept a bullish floor under LNG and Henry Hub.
- BitcoinBitcoin spent the week caught between liquidity bears and debasement bulls, with sentiment tilting cautiously more constructive into the weekend.
- European equitiesEuropean equities look set for a second-half catch-up, according to the balance of research published this week.
- US bondsUS bond markets spent the week caught between a hawkish Fed pivot and softer labor data — and by Friday, the debate had clearly tilted.
- EU bondsEU Bonds Weekly: A hawkish-to-dovish tilt took hold as softer inflation reshaped ECB expectations.
- EUR/USDEUR/USD: a bearish first half of the week gave way to a more constructive tone after soft US payrolls, with published research now leaning toward a late-2026 recovery.