Assets

• Cross-assetTwo forces are pulling markets in opposite directions, according to research published this week: a deliberate surge in long-end US yields and a coordinated US-Japan intervention reshaping the yen.
• GoldGold's long-term case remains intact, according to a strategic bullish view laid out in recently published commentary — but near-term upside may be limited.
• SilverSilver is drawing fresh attention as a multi-year speculative play, according to recently published commentary.
• CopperCopper looks "grossly underpriced" relative to its historical price range and current cost dynamics, according to a recently published contrarian view.
• OilOil is caught between diplomacy and disruption — and published research is genuinely split on which force wins.
• Natural gasLNG prices are flashing a major supply-squeeze signal, according to research circulating this week.
• BitcoinBitcoin has no clean narrative right now — published research is split on both the near term and the long term.
• US equitiesUS equity views are sharply split by horizon right now — tactically constructive, strategically nervous, and openly divided on AI.
• European equitiesEuropean equities are drawing cautiously constructive research attention, with the DAX set up for near-term gains and European banks winning meaningful medium-term conviction — while legacy carmakers face a structural…
• US bondsPublished research this week overwhelmingly points to higher US Treasury yields across the curve, with the 30Y already at multi-decade highs and pressure extending to the 10Y and front end.
• EU bondsPublished research this week leans toward near-term upward pressure on euro-area interest rates, with a September ECB hike treated as close to a done deal.
• EUR/USDPublished research this week leans bullish on the euro versus the dollar, with no opposing calls surfacing on the pair.

Macro

• Macro themesThree stories dominated macro research this week.