Assets

• Cross-assetAcross markets, one message dominates today's published research: synchronized global tightening is colliding with an energy-price shock, and the fallout is duration-bearish, dollar-bullish, and energy-bullish.
• GoldGold: the published research this week is uniformly bullish — the only debate is how far and how fast.
• SilverSilver's bull case is quietly building on the physical side of the market.
• OilPublished research this week is overwhelmingly positioned for crude and refined products to stay elevated or push higher, with only one meaningful dissent — and even that view hedges itself near-term.
• Natural gasNatural gas: published research is leaning bullish, and the reasoning is worth unpacking.
• BitcoinBitcoin's reclaim of $78,000 has published research broadly leaning bullish, with tactical and medium-term views pointing the same direction.
• US equitiesUS equities are caught in a near-term tug-of-war, but the published research consensus still leans constructive over a 6–12 month horizon.
• European equitiesEuropean equities are getting a constructive cyclical read from published research this week, with both top-down allocation calls and bottom-up German single-name catalysts pointing the same direction.
• US bondsPublished research this week is overwhelmingly lined up in one direction on US Treasuries: yields are staying high, and the risks skew higher still.
• EU bondsEuropean bond yields look set to grind higher, according to the bulk of research published this week.
• EUR/USDPublished research on EUR/USD is split by time horizon: bearish now, more constructive into year-end, and openly divided on the long run.

Macro

• Macro themesGlobal central banks are moving in the same direction for the first time in years: tighter. Research published this week frames it as a synchronized hiking cycle, driven by sticky energy-led inflation, a hawkish Fed,…