Assets
- Cross-assetThe week's dominant message from published research: bond markets are cracking, and central banks are being pushed back toward tightening.
- GoldGold's weekly recap: strategic bulls dominated the published research, even as tactical bears warned of near-term pressure from rising yields and Fed hike odds.
- CopperCopper's structural bull case dominated the week, but tariff-driven froth started to leak out late.
- Natural gasEuropean natural gas dominated the week's research, with the published consensus pointing firmly higher into winter.
- BitcoinBitcoin's week: debasement tailwinds dominated, with a brief mid-week wobble.
- European equitiesEuropean equities delivered a mixed week, with structural bulls colliding with fresh macro anxiety.
- EU bondsEuropean bond markets had a defining week: the ECB delivered a 25bp hike, lifted its inflation and growth projections, and signaled the tightening cycle isn't finished. Bund yields pushed to multi-year highs, with the…