Foreign
1. Standard Chartered: The Fed is expected to implement rate cuts to cushion the impact of the bond market and support economic growth.
2. Commerzbank: It is unclear whether US Treasuries will usher in a "Tras moment".
3. TD Securities: Foreign investors increased their holdings of short-term US Treasuries in the first quarter.
4. Societe Generale: The imbalance between supply and demand of Japanese government bonds is the main reason for the weakness.
5. Commerzbank: As the impact of weakening expectations of rate cuts gradually fades, the pound is falling from its highs.
6. CLSA: US stocks are "extremely complacent" about trade war risks, and earnings expectations may be difficult to fulfill.
Domestic
1. CICC: The spillover effect of insufficient yen liquidity may accelerate the "triple kill" of US stocks, bonds and currencies.
2. CITIC Securities: Deficit concerns caused by Trump's tax reform bill triggered the "bond vigilante" narrative.
3. CITIC Securities: The central bank may maintain a relatively loose operation in the future, and MLF net issuance may become a regular operation.
4. CITIC Securities: It is recommended to focus on the key materials and equipment links of the fusion industry chain.
5. Huatai Securities: In the medium and long term, we are still optimistic about the increase in market share of leading express delivery companies.
6. Shenwan Hongyuan: The potential risks of my country's economy in the future mainly come from external factors, and the RMB exchange rate may be used as an observation indicator.
