Internationally:
1. Goldman Sachs: The Fed is likely to hold rates steady in January, but will cut rates twice more in the remainder of 2026.
2. JPMorgan Chase: The Fed's expectation of a rate cut in 2026 has been cancelled; a 25 basis point rate hike is expected in 2027.
3. Societe Generale: Declining unemployment and rising wages give the Fed more reason to hold rates steady in January.
4. Goldman Sachs: Despite remaining geopolitical risks, oil prices may continue to decline.
Domestically:
1. CITIC Securities: China is expected to experience "moderate reflation" in 2026.
2. CITIC Securities: With a bullish sentiment, the probability of an upward trend in the A-share market after the start of the year is higher.
3. CITIC Securities: Gold prices will accelerate upward during Trump's term due to the Venezuelan crisis.
4. CITIC Securities: Copper will inevitably follow gold and silver; the rally is not over yet.
5. CITIC Securities: Investment in power grid infrastructure during the 15th Five-Year Plan period may reach 3.8 trillion yuan. 6. CITIC Securities: Still expects the Fed to pause rate cuts at its January meeting, with one more rate cut possible during Powell's term.
7. Huatai Securities: Expects the Fed to pause rate cuts from January to May, followed by 1-2 rate cuts after the new Fed chairman takes office.
8. Founder Securities: The market is pricing in a no-rate-cut Fed in January, with rate cuts possibly starting as early as June.
9. Huachuang Securities: With increased policy support and accelerated clinical trials, the brain-computer interface industry is entering a critical stage of industrialization.
10. Shenwan Hongyuan: The RMB may appreciate by 2-3 points annually over the next few years, reaching over 30% in about 10 years.
