更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 Note: As the latest period (calendar 2Q) is not complete, the bar is an adjusted intra-quarter data point. Data as of 5/23/2024. M O R G A N S T A N L E Y R E S E A R C H Pg. 13 Company Quotes Pg. 44 M O R G A N S T A N L E Y R E S E A R C H Note: N/A represents insignificant search results or a category that doesn't relate to that sector. Corporate Transcript Mentions—Industry Breakdown Over Last 90 Days: AI and Efficiency Source: AlphaSense, Haver Analytics, Morgan Stanley Res ...

摩根史丹利:宏观策略谈-三中全会前瞻摘要 中国经济目前处于通缩状态,消费疲软,信心不足,企业盈利不佳。517 房地产新政出 台后，整体经济数据表现参差不齐，消费和通胀数据偏差,而产量、出口和实际 GDP 数据勉强达标。 三中全会将继续沿袭过去四五年的方针规划，即中国式现代化，包括支持技术升级，解，shuinu99 进"卡脖子"点嘛。 #动态心地点点 * • 决"卡脖子"问题、推动产业链自给自足以及保障能源、食品和科技安全。《张歌 政府内部普遍认为需要通过中央政府资产负债表兜底,实现债务重组、刺激消费并重燃 • 私人企业信心,以实现再通胀。然而,将这些建议转化为行动仍需迫切感,这源于技术 升级与国际竞争需要走出通缩,以及社会稳定问题。 • 未来地方债与中央债的发展方向应更多用于社会保障体系建设,如充实社保、养老、保 障性住房和教育等领域,使居民没有后顾之忧,可以增加消费。 • 当前中国经济发展面临的主要问题是经济增长的不平衡,具体表现为工业生产和投资较 为强劲,而消费相对疲软。 • 在政策选择方面,专家学者普遍认为,在需求不足的情况下,财政政策的乘数效应优于 的一个人。 升,反而有所下降。 Q&A 最近两周的宏 ...

更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 摘要 • The recent CPI release showed a second consecutive month of lower inflation, with core prices rising by 0.16%. This suggests progress in reversing first-quarter overheating and aligns with a core PCE inflation estimate of approximately 0.12%, down from 0.25% in April. • The FOMC statement acknowledged modest progress in inflation but showed little change beyond that. The summary of economic projections indicated an expectation of one rate cut this year, down from three cuts ...

■ WWDC is historically not a major stock catalyst, though this year takes on new meaning given SW upgrades will feature prominently in the iPhone 16. ■ We expect Siri will be re-introduced as a next-gen, voice-activated virtual assistant capable of processing more complex commands directly on the iPhone. MORGAN STANLEY & CO. LLC Erik W Woodring Equity Analyst Erik Woodring@morganstanley.com | --- | --- | --- | --- | --- | |-----------------------------------------|-------|-------|--------------------------- ...

Morgan Stanley | RESEARCH 5月份PI环比转正,结束了此前的六连跌。考虑到(1)出口的强劲: (2)市场化程度更高的国内非金融上市企业已开始对投资做出 自发性调整; MORGAN STANLEY RESEARCH IDEA 券发行速度将进一步加快。这将在下半年支持基建,尤其是高质量基建项目的投资。 和研报数据) 手调研究 政府债券净发行量（十亿人民币） 1,400 更多 ■2022 ■2023 ■2024 1,200 shuinu9870 800 600 400 200 0 面多 -200 Jan shuinu9870 Mar Feb Apr May age and a man and and the comment of the comment of the comment of the comment of the comment of the comment of the comment of the compare of the compare of the compare and 资料来源:CEIC、万得、摩根士丹利研究部 Morgan Stanley | RESEARCH ...

快递保险房地产物管电池行业更新 • 华润万象是华润置地旗下物管公司,目前管理 101个商场,全国排名第一。 尽管中国经济与消费环境疲软,但华润万象仍能实现稳健增长,其盈利能 力持续跑赢市场。主要原因包括行业竞争格局改善以及经济不佳时马太效 应加剧，使得核心商场吸引更多客流与品牌资源。 疫情后优质商场的客流恢复情况显著优于位置较差的区域性商场和设施 型商场。品牌端的开店计划有所放缓,但他们更倾向于选择容流量大、位 置优越的商场开店。华润万象目前在一二线城市购物中心的零售额市场份 .手调研纪要和研报 额约为 7%,预计到 2030年这一比例将翻倍至 15%。 大部分投资者认可华润万象在购物中心领域的长期竞争优势,但也担心行 业压力可能导致其表现不如预期,特别是短期内社龄数据不胜带来的情绪 影响。此外,中国境内自行车消费疲软也是一个困素。 投资者还关注到华 润万象 30%的利润来自住宅板块,这部分估值相对较低,因此整体估值提 升空间有限。 更多一手调研究要第 长三角房地产市场在新政后的变化有哪些显著特点? 歌据加V：shuinu9870 更多资料加入知识星球:水木调研纪要 关注公众号:水木纪要 在购房者群体方面,8 ...

更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 Morgan Stanley I RESEARCH FOUNDATION Exhibit 42: YTD Factor Return within Industrials Top 1000 Industrials YTD Factor Return 开报数据加V：shuinu9870 Rank Factor Return 1 12m-1m Residual Momentum (High vs Low) 12.2% 2 9-Month Price Momentum (High vs Low) 11.8% 3 1-Year Sales Growth (High vs Low) 10.1% 4 12-Month Price Momentum (High vs Low) 9.6% 5 6-Month Price Momentum (High vs Low) 研纪要和研报 8.9% 6 Forecast long term growth (High vs Low) 8.8% 7 1-Year EPS Growth (High vs Low) 8.0% 8 Com ...

更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 M Global Insight June 10, 2024 09:00 PM GMT ： s h u i n u 9 8 7 0 加 V 据 数 报 研 和 要 纪 Global Sustainability 研 调 手 一 多 更 A Nuclear Renaissance Is Coming ： s h u i n u 9 8 7 0 加 V 据 数 Potential investment of over $1.5 trillion th报rough 2050 could spur opportunities across the nuclear value 研 和 要 chain. We assess five key trends, 纪map out 51 stocks globally, and discuss what's not yet priced in for eight 研 ...

更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 Morgan Stanley RESEARCH June 6, 2024 06:47 PM GMT Global Macro Strategy I Global G10 FX Chart Pack Top charts we are watching for each G1O currency with economic indicators, flows, positioning, and drivers. Risk currencies outperform funders thanks to falling global rates USD View: Neutral I Skew: Bullish USD-positive rate differentials and further US election risk premium being priced in suggest that USD should keep rising into 2H24. 和研报数 We see EUR weighed down by its negative ...

更多资料加入知识星球：水木调研纪要关注公众号：水木纪要 Morgan Stanley RESEARCH May 31, 2024 03:08 PM GMT Investor Presentation / Asia Pacific China Lithium Industry . China's Lithium Production, Trade and Inventory . China Lithium Mine Supply . Africa Lithium Mine Supply 更多一手调研纪要和研报数据加V：shuinu9870 shuinu9870 decision. 更多一手调研纪要和研报数据加V： huinu9870 更多一手 MORGAN STANLEY ASIA LIMITED+ Rachel L Zhang shuinu9870 Equity Analyst Rachel.Zhang@morganstanley.com +852 2239-1520 Chris Jiang Equity Analyst Chris.Jiang@morganstanley.com +852 3963-1593 ...