11 October 2024 | 1:33PM BST Global Markets Analyst Lessons From Two Decades of EM Fixed Income Investing n The growth in EM local debt in the aftermath of the EM BoP crises in the late 1990s and early 2000s led to a significant increase in EM local debt issuance and the creation of a new sovereign asset class alongside EM hard currency sovereign bonds. Two decades on, we draw four broad lessons for investors. n A more mature asset class, with less outperformance but more resilience. Growing up is not all i ...

本文档仅供上海信鱼私募基金管理有限公司18860455898研究使用，请勿外传 11 October 2024 | 8:00PM HKT China Restaurants: Monthly Tracker: Sep update: Sequentially softer than Aug while improvement in National Day holiday Sep SSS recovery was softer than Aug, which is similar to the trend we've seen in other consumer sectors (e.g. sportswear). By brand, Haidilao table turn declined by MSD-HSD% yoy and dropped to below 4x based on our calculation entering off-peak season, implying a lower vs. pre-Covid recovery level at low 70%s vs. low-80%s ...

10 October 2024 | 10:53PM EDT Global Credit Trader Dispersion reversion Dispersion: Not just a CCC story n Dispersion in the USD HY market has started to show convincing signs of a decline for the first time since 2022. n While most of the compression has been driven by a rally in CCCs and Wirelines and Cable & Satellite, the B bucket has also become less disperse. n We expect full normalization of dispersion in the B bucket but a slower recovery in the CCC bucket. Why we favor leveraged loans even as the F ...

11 October 2024 | 3:10PM BRT As China returns from the long Golden Week holidays, buyers and sellers are slowly resuming market conversations. For now our conversations suggest a continuation of the past month: buyers are buying regular volumes, seasonality is disappointing and paper prices are still under pressure. Recent announced China monetary and fiscal policies have failed to trigger a significant change in sentiment and/or paper demand, but pulp prices are expected to remain flat in October (maybe so ...

本文档仅供上海信鱼私募基金管理有限公司18860455898研究使用，请勿外传 10 October 2024 | 10:56PM EDT Americas Clean Technology: Water: WEFTEC Takeaways: Infrastructure Act spending starting to emerge and wastewater We attended the Water Environment Federation's Technical Exhibition and Conference (WEFTEC) in New Orleans this week. We met with MWA, PNR, VLTO, and XYL within our water coverage and a number of other companies within the water value chain at WEFTEC. Conversations included infrastructure spending, new product launches, produc ...

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10 October 2024 | 4:09PM EDT about subsequent stages of the AI build-out. 本文档仅供上海信鱼私募基金管理有限公司18860455898研究使用，请勿外传 | --- | --- | --- | --- | |-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------|--------------------------------------------------------------------------------| | | | | | | | US Equity Views AI and US ...

10 October 2024 | 6:36PM EDT _ Americas Real Estate: Retail: Takeaways from Private Real Estate Webinar On October 10, 2024, we hosted our Private Real Estate Retail (shopping center) Webinar. Panelists included Mary Rottler from First Washington, Daniel Zatloukal from Inland Real Estate, and Joseph Tichar from Raider Hill. Takeaways from the webinar include views on the consumer, 2025 same store NOI growth, retailer bankruptcies, transaction market and cap rates, and the financing environment. Overall, we ...

11 October 2024 | 2:46PM EDT GS TWIG Notes: This Week in Global Research - October 11, 2024 | --- | --- | --- | |-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

11 October 2024 | 3:46AM EDT Buy CL | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------|---------------------------------------------------------------------------------------------------------------------------------------|--------------|-------|-----------------------------------------------------------------------------|-------|-------------------------|------------------------------|-------| | | | | | | | | | | | | Nvidia Corp. (NVDA) NDR Takeaways: Inference Complexity to Drive Fut ...