Assets

• Cross-assetPublished research this week keeps circling one idea: a higher-for-longer rates regime is colliding with fresh geopolitical risk, and the bond market is where everything else gets repriced.
• GoldPublished research is lining up firmly bullish on gold, with multiple independent analyst notes this week all pointing to higher spot prices over the near to medium term.
• SilverSilver: the published research mood is bullish, with the debate centered on *when* to buy, not whether to.
• OilOil carries a bullish tilt in this week's published research, though a vocal minority is calling for a sharp near-term pullback.
• Natural gasEuropean natural gas is a tale of two horizons, according to recently published research: tight and volatile this winter, but structurally softer from 2027 onward as new LNG supply floods the market.
• BitcoinBitcoin's bull case is getting louder in published research — but it leans on a specific trigger.
• US equitiesUS equity research is sharply divided on where stocks go from here, and the split is directional — not just a matter of time horizons.
• European equitiesEuropean equity views are splitting sharply along national lines, according to recently published research.
• US bondsPublished research this week leans heavily bearish on US Treasury prices — the dominant view is that yields grind higher from here, with only a minority calling for a reversal lower.
• EU bondsEuropean sovereign bond stress is back on the radar, with published research pointing to higher yields and wider spreads across the region — France at the center of it.
• EUR/USDPublished research is leaning heavily bearish on the euro against the dollar, with only a narrow contrarian camp seeing a rebound.

Macro

• Macro themesThree themes are driving markets right now, according to this week's published macro research: the Fed's next move, France's fiscal and political mess, and the AI capex boom reshaping growth and yields.