Group 1 - The report from CICC highlights a resurgence of the US and Japanese bond market turmoil, reflecting global geopolitical tensions and liquidity fluctuations driven by fiscal dominance [1] - CICC warns that volatility in the US bond market could trigger systemic risks in overseas markets, and controlling deficits politically is nearly impossible under the current fiscal framework [1] - The implementation of financial repression policies such as Yield Curve Control (YCC) may become necessary to suppress long-term interest rates, leading to a trend of increased dollar liquidity and a weaker dollar [1] - This environment is expected to favor commodities like gold, silver, and copper, as well as emerging markets, particularly the Chinese stock market, which remains significantly underweighted by global funds [1] - The combination of easing global liquidity and the trend of overseas funds converting to RMB may boost the RMB against the USD, supporting a prolonged bull market in Chinese equities [1] Group 2 - Huatai Securities forecasts an upward trend in yellow phosphorus demand due to growth in downstream phosphoric acid and terminal materials for new energy, as well as electronic-grade phosphoric acid and fine phosphates [2] - The cost competitiveness of thermal phosphoric acid over wet phosphoric acid is expected to enhance demand for both thermal process phosphoric acid and yellow phosphorus, especially amid high prices for sulfur and sulfuric acid [2] - Supply-side constraints due to high energy consumption and safety regulations are limiting new yellow phosphorus production capacity, with only slight increases through capacity replacement [2] - Under the dual carbon policy, existing high-energy-consuming capacities may face elimination pressures, leading to a favorable supply-demand scenario for yellow phosphorus and related products [2] - Leading companies with yellow phosphorus production capacity and integrated operations from phosphate rock to yellow phosphorus and phosphoric acid are expected to benefit from this trend [2] Group 3 - Galaxy Securities anticipates that the prices of precious metals such as gold and silver will continue to rise due to marginal easing of dollar liquidity and escalating global geopolitical conflicts over strategic resources [3]

Market Outlook - Ryan Detrick of Carson Group expresses a bullish outlook for 2026, noting that the final trading day of the year has closed lower for five consecutive years, a historical first [1] - Despite stretched US valuations, similar concerns were present a year ago, and Detrick describes the current environment as a global bull market with attractive opportunities in international regions, particularly emerging markets [1] - Emerging markets are trading at levels seen during their 2007 peak, indicating significant potential upside compared to the more expensive US market [1] International Market Performance - In 2025, international markets, especially Europe, outperformed the US by nearly 40%, marking the largest margin in two decades [2] - Detrick believes this global re-acceleration signifies a real recovery, advising portfolio managers to adopt a diversified international approach [2] Bull Market Duration - The current US bull market is entering its fourth year, with historical data suggesting an average remaining duration of eight years once a bull market reaches this age [2] - The shortest duration recorded for a bull market at this stage is five years, providing confidence in the ongoing bull market [2] Stock Recommendations - Bitmine Immersion Technologies Inc. (NYSEAMERICAN:BMNR) is highlighted as a buzzing stock, with an average three-month volume of 44.494 million and 20 hedge fund holders [7] - Cantor Fitzgerald initiated coverage of Bitmine Immersion with an Overweight rating and a $39 price target, citing its competitive edge in digital asset treasuries and strong stock liquidity [8] - In FQ4 2025, Bitmine reported a net income of $328.2 million, resulting in a fully diluted EPS of $13.39, supported by a group of high-profile institutional investors [9] Bitmine's Strategic Initiatives - A key part of Bitmine's 2026 strategy is the launch of the Made-in-America Validator Network/MAVAN, aimed at providing safe, high-yield staking for ETH assets [10] - The company has initiated a pilot program with three top staking providers to test performance and plans to scale MAVAN with world-class infrastructure partners, expecting full operations to commence in FQ1 2026 [10] SoundHound AI Inc. Overview - SoundHound AI Inc. (NASDAQ:SOUN) has an average three-month volume of 32.586 million and 22 hedge fund holders [12] - Piper Sandler lowered its price target on SoundHound to $11 while maintaining a Neutral rating, based on updated projections from the latest 10-Q filings [12] - Cantor Fitzgerald upgraded SoundHound to Overweight with a price target of $15, highlighting the company's effective strategy in cross-selling and upselling AI voice services [13] SoundHound's Partnerships and Innovations - SoundHound announced a partnership with OpenTable to launch a conversational in-vehicle voice AI reservations agent, enhancing its in-car voice commerce platform [14] - This integration allows users to book tables at over 60,000 restaurants using natural language commands, improving user experience while driving [14] - SoundHound develops independent voice AI solutions for various industries, including automotive, TV, IoT, and customer service, across multiple countries [15]

STRATEGIST AT THE CARSON GROUP RYAN GOOD MORNING. GOOD TO SEE YOU. >> GOOD MORNING FRANK I FORGOT TO GET THE MEMO TO WEAR SOME GREEN TODAY.BUT LOOKING GOOD FRANK. THANKS. >> WELL, THANK YOU VERY MUCH.I'M TRYING TO BE IN THE HOLIDAY SPIRIT. SPEAKING OF THE HOLIDAY SPIRIT, I FOLLOW YOU ON SOCIAL MEDIA. RYAN, YOU WERE POSTING ABOUT THE FACT THAT WE DIDN'T GET A SANTA CLAUS RALLY THE LAST TWO YEARS, BUT WE'VE NEVER MISSED THREE IN A ROW.YOU'RE ALMOST SOUNDS LIKE YOU'RE ALMOST GUARANTEEING A SANTA RALLY THIS YEA ...

From the Desk of Anthony Pompliano0:00 Central Banks Now own More Gold Than US Treasuries2:50 Will Bitcoin Price Continue To Crash?3:52 Ryan Detrick Interview on The Global Bull MarketEnjoy! https://t.co/sI6Fkq9PeY ...