Assets

• Cross-assetAI earnings are buying risk assets time, but the bond market's fiscal reckoning is building underneath. That's the cross-asset read emerging from this week's published research.
• GoldPublished research on gold is running remarkably one-directional right now: bullish across every time horizon, with the only bearish signal tied to a specific event risk rather than a real base case.
• SilverSilver is getting a uniformly bullish read from published research this week, framed as a long-term structural story rather than a short-term trade.
• CopperPublished research this week lines up firmly bullish on copper, and the case rests on demand forces that aren't going away.
• OilPublished research this week leans bullish on crude, though the consensus is not unanimous.
• Natural gasEuropean natural gas looks set to stay elevated for the next two years, according to research published this week.
• BitcoinPublished research this week is broadly bullish on Bitcoin across tactical, cyclical, and strategic horizons — and the unifying thesis is the "debasement trade."
• US equitiesUS equities are riding a broadly bullish wave into year-end, according to the published research consensus this week — anchored by blowout AI earnings, though strategists disagree sharply on what comes after.
• European equitiesEuropean equities are catching a constructive bid, with published research this week flagging near-term upside for the DAX and select single names — even as analysts warn a US tech wobble remains the key tail risk.
• US bondsPublished research this week leans toward higher US Treasury yields — especially at the long end — with the fiscal story doing most of the heavy lifting.
• EU bondsEuropean rates look set to grind higher, according to a growing body of published research pointing to hawkish central bank signalling and unresolved fiscal risks across the bloc.
• EUR/USDPublished research this week leans bearish on the euro, arguing EUR/USD has room to fall in the weeks ahead.

Macro

• Macro themesLong-end US yields are the story this week, and published research is split on whether policymakers can contain the pressure.