Assets

• Cross-assetToday's cross-asset read: a hot-inflation shock is colliding with acute credit stress in the AI infrastructure stack, and the two forces are pulling markets in opposite directions.
• GoldGold research is split today, but the near-term bearish camp currently has the louder voice.
• SilverSilver's weakness looks like a buying opportunity, according to a strategic bullish case making the rounds in published research this week.
• CopperCopper's structural bull case is dominating the published research this week, with no credible bearish counter in view.
• OilOil research is sharply split right now, and the Middle East is the swing factor.
• Natural gasNatural gas: published research is telling a split story heading into winter.
• BitcoinBitcoin is drawing fresh conviction as a long-horizon core holding, according to research published this week that names it the standout pick for multi-year accumulation across digital assets.
• US equitiesUS equity research is sharply split by horizon and segment, with a weak CPI print putting fresh pressure on tech while defensives hold firm.
• European equitiesEuropean equities look set for a rough session, with published research flagging the DAX to open lower and several German names under heavy selling pressure — even as pockets of optimism remain in Iberia.
• US bondsPublished research is lining up behind one message on US Treasuries: yields are heading higher, and bond prices lower.
• EU bondsEuropean bond yields look set to grind higher, according to the published research consensus this week — with France the clear pressure point.
• EUR/USDPublished research is leaning bearish on the euro — with one notable long-term dissent.

Macro

• Macro themesHot US inflation collided with an AI-sector selloff to drive a risk-off session across global markets.