Internationally
1. Goldman Sachs: Raised its December Brent crude oil price forecast to $90 per barrel, maintaining its 2027 average price forecast of $80 per barrel.
2. JPMorgan Chase: AI stocks could drive 70% of Asian earnings growth in 2027; supply tightness may continue into 2028.
3. Jefferies: The 5-year US Treasury yield rose to 5%, making it attractive to long-term investors.
4. DBS Bank: The market is reassessing the risks of AI investments, and financing discipline may be further strengthened.
5. UniCredit: European strategic autonomy will push up government debt and tax burdens, potentially leading to a structural upward shift in the central interest rate.
6. Capital Economics: The likelihood of a Canadian rate hike in October has decreased significantly; it is expected that interest rate normalization will only begin next year.
7. KPMG: Canadian employment has declined for two consecutive months, complicating the outlook for rate hikes, but a 25 basis point rate hike is still expected in December. 8. Bank of Montreal: Canadian employment has declined sharply for two consecutive months, significantly reducing the necessity for interest rate hikes.
9. Deutsche Bank: Singapore's core inflation is likely to remain high over the next year, and the Monetary Authority of Singapore (MAS) is expected to further promote the appreciation of the Singapore dollar.
Domestic:
1. CICC: The emphasis on a dumbbell-shaped allocation structure of "technology + dividends" is expected to increase.
2. China Merchants Securities Strategy: Focus on three main themes in the next 3-6 months: technology, domestic demand, and securities firms.
3. CITIC Securities: The valuation and profits of leading tanker companies are expected to reach record highs in the fourth quarter of 2026.
4. CITIC Securities: Use economic conditions and supply clearing to cope with high interest rates, and closely track the inflection point of the AI investment cycle.
5. CITIC Securities: High earnings growth in US stocks may no longer be concentrated in leading technology companies; the profit contribution of non-technology sectors is significantly increasing.
6. CITIC Securities: Scale-up technology is becoming increasingly prevalent, with NPO/CPO driving a revaluation of passive devices. 7. CITIC Securities: The unit value of TLVR chip inductors is increasing, and the industry is rapidly expanding.
8. Huatai Securities: The increased production of consumer-grade 3D printing equipment is expected to drive continued growth in demand for consumables.
9. Huatai Securities A-share strategy: Continue to look for cost-effective opportunities based on profitability and market conditions.
