Assets

• Cross-assetRates are rising almost everywhere at once — and equities don't seem to care. That's the tension across markets right now, according to a wide sweep of published research this week.
• GoldGold: published research this week is uniformly bullish across every time horizon, with no dissenting view surfacing.
• SilverSilver's setup is drawing fresh bullish attention.
• CopperCopper: the published research is lining up on the same side — higher prices ahead, with only the timing in dispute.
• OilOil forecasts are sharply split right now, but refined products tell a cleaner story.
• Natural gasNatural gas is telling two very different stories depending on where you look, according to research published this week.
• BitcoinPublished research on Bitcoin is leaning bearish today — and unusually, both the short-term and long-term cases point the same direction.
• US equitiesPublished research this week leans strongly bullish on US equities, though a vocal minority is bracing for a correction.
• European equitiesEuropean equities: cautiously constructive at the headline level, but the country-by-country story is split.
• US bondsPublished research this week leans heavily toward higher US Treasury yields and wider credit spreads, with only a narrow dissenting camp arguing for a near-term price bounce.
• EU bondsEuropean bond yields look set to grind higher, according to the bulk of this week's published research — bearish for Bund, BTP, and broader Eurozone government bond prices.
• EUR/USDMost published research is leaning bullish on the euro versus the dollar, with one notable holdout.

Macro

• Macro themesTwo stories are dominating macro research desks right now: the AI investment boom reshaping global equities, and the Middle East conflict rippling through energy, inflation, and central bank policy.