Internationally:
1. UBS: FOMO and bubble anxiety suggest more volatility in the stock market in 2026.
2. Goldman Sachs: Chinese corporate profits may grow by 14% in 2026, likely boosting stock market performance.
3. JPMorgan Chase: The Bank of Japan may continue to raise interest rates.
4. Nomura Securities: The specific level triggering intervention by Japanese authorities is still uncertain, but bold action may be imminent.
5. Danske Bank: The euro may strengthen against the US dollar in the medium term.
Domestically:
1. CICC: Policy efforts are crucial to boosting consumption; pay attention to the period before the Two Sessions next year.
2. China Merchants Bank: Japan's resumption of interest rate hikes may put pressure on global financial conditions.
3. CITIC Securities: Silver's VIX is at a historical high; be wary of overbought correction risks.
4. CITIC Securities: Long-term allocation again emphasizes the importance of changes in consumption structure.
5. BOC Securities: Government investment may be a key lever for stabilizing economic growth in 2026. 6. CITIC Securities: We suggest focusing on allocation opportunities after short-term interest rate overshooting.
7. CITIC Securities: We expect the policy interest rate to be reduced by 10bps 1-2 times in 2026.
8. CITIC Securities: We remain optimistic about the AI computing power sector.
9. CITIC Securities: The unexpectedly strong US CPI slowdown continues to fuel the non-ferrous metals bull market.
10. Zhongtai Securities: We expect listed insurance companies to maintain double-digit growth in core premium payments and value growth in 2026.
11. Huatai Securities: We suggest continuing to position for the spring rally and focusing on sectors with improving prospects, such as the AI blockchain.
