Assets
- Cross-assetMacro Recap: Oil, Inflation, and a Hawkish Fed Pivot Reshape the Week
- GoldGold spent the week on the back foot, slipping from the low-$4,100s to briefly below $4,000 as rising oil prices, firmer rate-hike expectations for December, and margin-call selling from a tech equity rout weighed on…
- SilverSilver had a rough week, with the published research tilting more bearish as the days went on.
- CopperCopper took center stage in base metals this week, with research broadly leaning bullish on a structural supply-demand squeeze — though late-week notes flagged crowded positioning.
- OilOil research this week leaned bullish on geopolitics, but a credible pushback emerged that current prices are mostly risk premium, not fundamentals.
- Natural gasEuropean gas took center stage this week, with published research broadly pointing to further upside risk into winter.
- BitcoinBitcoin took center stage this week as researchers debated whether the rally finally extends to crypto.
- European equitiesEuropean equities had a tug-of-war week between resilient earnings and macro worries.
- US bondsUS bond markets spent the week caught between a hawkish Fed setup and a sudden flight-to-safety rally in Treasuries.
- EU bondsEuropean bond markets had a turbulent week, with France at the center of the storm and the ECB's October 29 meeting looming.
- EUR/USDEUR/USD spent the week pinned by French politics, energy risk, and a hawkish-leaning Fed narrative — and research tone turned more bearish as the week progressed.
Macro
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Every morning, what published research argued the day before: the cross-asset and macro read in full, then every market in a line.