Assets

• Cross-assetGlobal bonds are selling off in sync, and published research this week points to a hawkish Fed repricing as the driver.
• GoldGold's story right now depends entirely on your time horizon: near-term caution, long-term conviction.
• CopperCopper looks set for a structurally higher price regime over the next 5–10 years, according to a growing body of published research.
• OilCrude oil research is leaning heavily bullish for the near and medium term, with only a lone long-horizon voice calling for gradual declines.
• Natural gasPublished research is lining up behind higher natural gas prices — both European TTF and US Henry Hub — with no meaningful dissent on direction in this week's macro commentary.
• BitcoinBitcoin outlook depends entirely on your time horizon, according to research crossing the desk this week.
• US equitiesUS equity research is split by time horizon, not fundamentals: near-term caution collides with cyclical optimism.
• European equitiesPublished research on European equities is split by time horizon: bearish near-term, more constructive further out.
• US bondsPublished research this week points to broad upward pressure on US Treasury yields across the curve — bearish for bond prices — with only narrow tactical dissent.
• EU bondsEuropean rates look set to keep grinding higher. Published research this week points to rising German Bund yields, EUR swap rates, ECB deposit rates, and front-end euro rates across both short and medium-term horizons.
• EUR/USDPublished research this week leans bearish on EUR/USD, with analysts arguing the pair can't hold 1.1600 and is set to retest 1.1500 in the first half of September.

Macro

• Macro themesCentral banks are turning hawkish and long-end bond yields are surging worldwide — and published research this week argues the two forces are feeding each other.