美银：The Flow Show-Gold-Binger

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 The Flow Show Gold-Binger Scores on the Doors: gold 30.3%, bitcoin 25.5%, stocks 12.6%, IG bonds 8.1%, HY bonds 7.6%, govt bonds 6.6%, cash 2.6%, commods 1.3%, US$ -9.6%, oil -11.0% YTD. Zeitgeist: "Tariffs, taxes, Iran, Russia, China, that was April wall of worry to climb; now we've just got China to go…when Xi & Trump shaking hands on the Great Wall it's the top". The Biggest Picture: best performing FX in '25…Russian ruble up 42% (Chart 3), best stock market…Poland up 54%, Uk ...