New Zealand's first-quarter input PPI rose 1.8% year-on-year, compared with 3.2% previously.

IRAN'S PRESIDENT SAYS UNDER NO CIRCUMSTANCES WILL IRAN RETREAT FROM THE LEGITIMATE RIGHTS OF THE IRANIAN PEOPLE AND THE COUNTRY

Internationally: 1. Goldman Sachs: Reiterates its target of $5,400 per ounce for gold by the end of 2026. 2. Goldman Sachs: The ongoing conflict in Iran and supply shocks weaken the ability of US Treasuries to diversify risk. 3. Citigroup: Global stock markets are expected to enter a consolidation period after the surge, and investors may be underestimating risks. 4. Yardeni Research: The Federal Reserve should abandon its dovish stance and shift to a tightening position at its June meeting. 5. Bank of America: Early June may see a wave of profit-taking in the stock market. 6. HSBC: Market concerns about inflation are not temporary, and rising long-term interest rates may reflect a structural shift. 7. Morgan Stanley: Expects the yield on 10-year Japanese government bonds to fall by the end of the year. 8. Macquarie: The Japanese bond market faces a structural shortage of buyers. 9. Nomura Securities: To cope with the inflation risks that may come from the depreciation of the yen, the Bank of Japan will raise interest rates in June. 10. Daiwa Securities: Sanae Takashi may resist raising interest rates, and the yen may continue to be under pressure. Domestically: 1. CITIC Securities: Be wary of a renewed rise in long-term interest rates in developed markets. 2. CITIC Securities: This year's AI + Energy & Chemical may be similar to 2025's AI + Resources. 3. CITIC Securities: Focus on AI, optical modules, power grid equipment, and humanoid robots. 4. CITIC Securities: Suggest focusing on structural opportunities such as the internationalization of innovative drugs and marginal improvements. 5. Huatai Securities: Consider semiconductor equipment and discrete devices for internal technology switching. 6. Guotai Haitong: Computing power futures catalyze a new narrative; the long-term expansion logic of the industry continues. 7. Guotai Haitong: AI industry chain inflation; Agents are expected to trigger the next round of price increases in the industry chain.