印尼首席经济部长：19%的美国关税可能在8月1日前生效，取决于联合声明。 ...

Global Market Insights - 34% of investors believe shorting the US dollar is the most crowded trade, an increase from June, marking the first occurrence of this sentiment [15] - Cash levels have dropped to a historical low of 3.9% in July [6] - Nearly half of the respondents expect the Federal Reserve to cut interest rates twice this year, with 26% anticipating that Bostic will become the next Fed Chair [8] - The market expects the final tariff level from the US on other markets to be 14%, slightly up from 12% in June [13] - Global investors have reached a new high in their overweight positions in the euro and European stocks [16] Asia Market Insights - The proportion of investors who believe China's economy will weaken in the next 12 months remains at 10%, unchanged from June [22] - There is an increasing willingness among investors to seek opportunities in markets outside of China compared to June [27] - Investors are more optimistic about Japan's economy, with a notable increase in those expecting improvement [29] - In the Asia-Pacific region, the proportion of investors optimistic about Japan has decreased from 45% to 32%, while those favoring South Korea increased from 5% to 16%, and India from 17% to 10%; however, China's sentiment has worsened from -5% to -13% [32] - Within the Chinese market, the most favored sectors by foreign investors are AI, dividends (now second), and internet, with consumer sectors still not favored [34]

Core Viewpoint - G20 officials express concerns over the impact of high tariffs imposed by the U.S. on the global economy [1] Group 1: Economic Impact - Senior finance officials from G20 countries worry about the uncertainty surrounding U.S. tariffs and their effects on the economy and financial markets [1] - Japan's Finance Minister, Taro Aso, stated that tariffs are not an appropriate tool for addressing trade imbalances [1]

Core Viewpoint - The Chilean Minister of Mining will hold a meeting with the copper industry next Tuesday to discuss issues related to U.S. tariffs [1] Group 1 - The meeting aims to address the impact of U.S. tariffs on the copper sector [1]

Core Viewpoint - Crude oil futures have stabilized after three days of slight declines, with limited downward pressure expected this week despite concerns over OPEC+ production increases and potential economic impacts from U.S. tariffs [1] Group 1: Market Analysis - The market is experiencing concerns regarding OPEC+ increasing supply and the potential economic impact of U.S. tariffs on demand [1] - Analyst Fawad Razaqzada suggests that while OPEC will release more supply into the market in the second half of the year, demand is not expected to be as poor as feared [1] - The oil price is anticipated to exhibit a sideways trading pattern for the remainder of the year rather than a clear trend [1]

Core Viewpoint - Brazil's Finance Minister Haddad expresses confidence in overcoming U.S. tariffs and is actively seeking a quick resolution to the issue [1] Group 1 - The Brazilian government is focused on addressing the challenges posed by U.S. tariffs [1] - Minister Haddad's statements indicate a proactive approach to trade negotiations [1] - The emphasis on a "quick solution" suggests urgency in addressing trade barriers [1]

Core Viewpoint - Volvo Cars reported its first quarterly loss since going public in 2021, primarily due to high restructuring costs and U.S. tariffs, with a significant one-time non-cash impairment charge of 11.4 billion Swedish Krona [1][5] Financial Performance - In Q2, Volvo Cars recorded an operating loss of 10 billion Swedish Krona, significantly below market expectations of a profit of 2.3 billion Swedish Krona [1][4] - Revenue decreased by 8% year-on-year to 93.5 billion Swedish Krona, driven by declining retail sales in markets like Europe [4] - Excluding one-time items, the core operating profit was 2.9 billion Swedish Krona, which, while down from 8 billion Krona year-on-year, exceeded analyst expectations [5] Strategic Adjustments - In response to U.S. tariffs, Volvo plans to start local production of its best-selling XC60 SUV at its South Carolina plant by the end of 2026 to mitigate high import duties [3][6] - The company is withdrawing sedans and station wagons from its U.S. product line due to reduced market interest and tariff impacts [6] - CEO Håkan Samuelsson emphasized the need to better utilize the South Carolina facility as a strategic asset and adapt the product strategy to the current tariff environment [6] Industry Context - Volvo's performance is seen as a bellwether for the automotive industry, which is facing challenges from macroeconomic conditions, tariff uncertainties, and increasing competition [6] - The company is also dealing with internal challenges, including delays in the launch of its flagship EX90 SUV and software issues, prompting a global workforce reduction of 3,000 employees to cut costs [6]

市场消息：巴西总统卢拉将于周四向全国发表关于美国关税的讲话。 ...

意大利商界领袖：美国关税达30%将对意大利经济造成375亿欧元的影响。 ...

Group 1 - Japan's manufacturing confidence has slightly improved in July, with the manufacturing sentiment index rising from +6 in June to +7 in July, driven by a recovery in the semiconductor industry [1] - The service sector sentiment index has remained unchanged at +30 for the third consecutive month, indicating stability in service industry confidence [1] - The electronic machinery sector index improved from -16 in June to -4 in July, while the chemical sector index rose from +12 to +18, attributed to better chip demand [1] Group 2 - The transportation machinery sector index, which includes Japan's key automotive industry, decreased from +20 in June to +9 in July, with concerns over the impact of a 25% U.S. tariff on exports and costs [1] - Overall service sector confidence showed mixed results, with wholesalers experiencing improved confidence, while sectors such as real estate, retail, IT, and transportation saw declines compared to June [1]