Goldman Sachs US Economics Analyst Views varied more widely on potential spending cuts from the planned Department of Government Efficiency (DOGE). Exhibit 4 shows that 42% of investors expect insignificant or quite modest spending cuts, 19% expect cuts amounting to $25-100bn, and 32% expect spending cuts of over $100bn or 0.3% of GDP per year. Exhibit 4: Investor Expectations for Spending Cuts from the Department of Government Efficiency Vary More Widely 0 5 10 15 20 25 30 No view Insignificantly Less than ...

demand improvement FPGA cycle troughed in mid 2024, and we think the overall market can return to growth in 2025. Although Anlogic is well positioned as a leading FPGA player in China benefiting from the localization trend, we stay EW given its sub-scale revenue and loss making status. Expect growth in 2025 to benefit from the localization trend: Four of China's top industry associations said that Chinese companies should be wary of buying U.S. chips as they are "no longer safe" and buy locally instead (lin ...

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 Europe Equity Research 16 December 2024 J P M O R G A N EMEA Gold Miners Metals Weekly: Who is going to buy gold in 2025? Stay OW Hochschild, AngloGold, & Fresnillo JPM Commodities Research (led by Greg Shearer) published their Metals Weekly, focusing on the outlook for gold in 2025 (link). Although gold has rallied ~30% this year, our colleagues maintain bullish outlook for gold prices given a still disruptive macro scenario stemming from increased tariffs, surging trade tensio ...

shuinu9870 shuinu9870 shuinu9870 更多一手调研纪要和研报数据加V： 更多一手调研纪要和研报数据加V： 更多一手调研纪要和研报数据加V： 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 shuinu9870 更多一手调研纪要和研报数据加V： shuinu9870 shuinu9870 更多一手调研纪要和研报数据加V： M Idea Mergers & Acquisitions | North America December 11, 2024 11:10 PM GMT Trump Antitrust Appointments Support A Rebound In M&A Activity shuinu9870 更多一手调研纪要和研报数据加V： New Trump appointments at FTC and DOJ likely come with a more traditional, lighter touch antitrust framework. This should drive up animal spirits and improve corpor ...

更多一手调研纪要和研报数据加V：shuinu9870 更多一手调研纪要和研报数据加V：shuinu9870 更多一手调研纪要和研报数据加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 See page 35 for analyst certification and important disclosures. J.P.Morgan 更多一手调研纪要和研报数据加V：shuinu9870 更多一手调研纪要和研报数据加V：shuinu9870 更多一手调研纪要和研报数据加V：shuinu9870 China Bond Analytics For the month ended Nov 30, 2024 | --- | --- | |-------------------------------------------------------------------------|-------| | | | | Soo Chong Lim AC (852) 2800-7387 | | | soochong.lim@jpmorgan.com J.P. Morgan Securiti ...

ab 6 December 2024 Global Research China First Read China Solar Industry Key takeaways from Annual Solar Conference Equities Utilities Disciplined supply becomes consensus for the industry On 4-5 December, we attended the CPIA (China Photovoltaic Industry Association) Annul Solar Conference held in Yibin, Sichuan. Many experts from the solar industry shared their insights and advice on the industry's healthy development. The key focus this year is self-disciplined supply control. While details and execution ...

J P M O R G A N Asia Pacific Economic Research 02 December 2024 China Another upside surprise in November Caixin manufacturing PMI 2025 Extel Institutional Investor All-Asia Equity Research Survey LVCI = Dec Voting Open Nov 12 - Dec 6 Please vote for J.P. Morgan (5 stars) Following the further uptick in the November NBS manufacturing PMI reported over the weekend, today's Caixin manufacturing PMI delivered upside surprise again, rising 1.2-pt to 51.5 (J.P.Morgan: 50.5; consensus: 50.6), adding to the solid ...

1 December 2024 | 1:52PM EST n In our 2025 US Economic Outlook, we outlined our expectations for policy changes under the upcoming Trump administration across three key areas: immigration, fiscal policy, and tariffs. In collaboration with our Marquee team, we have polled over 500 market participants in order to compare our policy expectations with investor expectations and better understand the policy assumptions reflected in market pricing. Jan Hatzius +1(212)902-0394 | jan.hatzius@gs.com Goldman Sachs & C ...

shuinu9870 shuinu9870 shuinu9870 更多一手调研纪要和研报数据加V： 更多一手调研纪要和研报数据加V： 更多一手调研纪要和研报数据加V： shuinu9870 shuinu9870 更多一手调研纪要和研报数据加V： shuinu9870 更多一手调研纪要和研报数据加V： 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 26 Nov 2024 20:45:09 ET │ 11 pages China Industrials | SMID Anticipation of More Tariff Escalation under Trump's Second Term shuinu9870 CITI'S TAKE Per Reuters (25 Nov), president-elect Trump pledged a large tariff of 25% on Mexico and Canada goods, and additional 10% tariff on China products for imports into the US market. More t ...

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 21 November 2024 | 8:44PM EST Oil Analyst 2025 Outlook: A Tale of Two Tails n Brent oil prices are on track to average roughly $80/bbl this year, but have declined to the low-to-mid $70s despite a 2024 deficit and geopolitical uncertainty. This reflects market confidence in a large 2025 surplus, which has depressed positioning and valuation. n Our base case is that Brent stays in a $70-85 range, with high spare capacity limiting price upside, and the price elasticity of OPEC and ...