Assets

• Cross-assetMarkets are flashing a synchronised hawkish signal today: US 10-year Treasury yields have punched above 5.2% to two-decade highs, Brent crude is back over $100 as Strait of Hormuz talks stall, and the dollar is broadly…
• GoldGold: published research is bearish near-term, bullish long-term — and the split is cleaner than it looks.
• SilverSilver is caught between a near-term selloff and a longer-cycle bull case, according to recently published research.
• CopperPublished research this week lines up firmly bullish on copper — but on a multi-year, structural basis, not a tactical trade.
• OilPublished research this week is overwhelmingly bullish on oil, with only a small, conditional camp seeing downside.
• US equitiesUS equities are getting a genuinely split verdict in this week's published research: tactical caution on the index, but constructive calls on AI, big tech, and select single names further out.
• US bondsPublished research this week leans heavily bearish on US Treasuries: most analysts expect yields to stay elevated or push higher across tactical and cyclical horizons.
• EU bondsPublished research this week leans one way on European bonds: yields and rates are biased higher, with tightening pressure on Eurozone debt still building.
• EUR/USDEuro-dollar outlook is genuinely split right now, with no clean consensus for the coming weeks.

Macro

• Macro themesThree forces are dominating macro commentary right now, according to the week's published research: US Treasury yields at multi-decade highs, a Middle East energy shock, and an AI investment boom reshaping credit…