Market Overview - In 2025, markets are experiencing high volatility, with NASDAQ and S&P 500 indices reaching all-time highs despite uncertain economic indicators [1][2] - Analysts anticipate clearer monetary and tariff policies in the second half of the year, along with solid earnings reports, particularly in the tech sector driven by AI [2] Company Insights - **CME Group**: - Operates the largest derivatives marketplace, benefiting from increased trading volumes in volatile markets [5] - Stock has risen over 40% in the last 12 months and over 18% in 2025, showing signs of recovery after a pullback [6][7] - **Goldman Sachs**: - A leading global investment bank that thrives in volatile markets, generating revenue from expanded bid-ask spreads and increased trading activity [9][10] - Stock is up 23.8% in 2025, with bullish momentum but potential for a short-term pullback [11] - **MarketAxess**: - Operates an electronic trading platform for corporate bonds, expected to benefit from increased trading volumes as credit market volatility rises [13][14] - Stock is down 1.5% in 2025 but has shown a 3.1% increase in the last three months, indicating a potential breakout [15][16]

Barclays may not be done with its investment-banking cuts, writes @PaullJDavies (via @opinion) https://t.co/xjb2Pxz1M8 ...

Asia Economics | Asia Pacific The Viewpoint: Why the RMB will not follow the yen path of 1985-95 We don't expect the RMB to appreciate significantly given persistent deflationary pressures and need to keep monetary policy accommodative. Pursuing currency appreciation on its own would exacerbate deflation, might be insufficient to secure a trade deal, and wouldn't bring sustainable rebalancing. Key Takeaways In this report, we draw on the lessons from Japan's currency appreciation after 1985 and highlight th ...

Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of Morgan Stanley Research. Investors should consider Morgan Stanley Research as only a single factor in making their investment decision. For analyst certification and other important disclosures, refer to the Disclosure Section, located at the end of this report. June 30, 2025 01:19 PM GMT Morg ...

Goldman Sachs named Raghav Maliah global chairman of investment banking, in addition to his regional roles in Asia https://t.co/pv38YTw0ia ...

Citigroup hires veteran investment banker Akira Kiyota from Nomura, the latest sign of competition for talent among global financial firms as they seek to benefit from Japan’s dealmaking boom https://t.co/jaSA8hLJiL ...

Core Insights - CBHH focuses on sourcing and executing infrastructure financing and M&A opportunities across the UK and continental Europe, particularly in next-generation infrastructure businesses [1][2] - The firm operates in the "core+ or value-add infrastructure" space, which includes sectors like data centers, EV charging, energy generation, and smart city technologies [1][2] Core+ Infrastructure - CBHH targets "next-generation infrastructure" assets that are too small for large-cap investors but too capital-intensive for early-stage funds, emphasizing their importance in driving mission-critical infrastructure [2] Operational Insights - Companies in this sector are described as capital-hungry and operationally intense, but understanding unit economics allows for effective growth underwriting [3] Market Dynamics - The merger with Herbst Hilgenfeldt Partners enhances CBHH's coverage in two active European infrastructure markets, aligning with public priorities of decarbonization and digital infrastructure [4] Advisory Approach - CBHH maintains strong relationships with clients, advising them from early institutional rounds to large-scale exits, and has co-invested in past clients, blending traditional banking principles with modern M&A execution [5][6] Competitive Positioning - Despite being a boutique firm, CBHH competes effectively with global investment banks due to the senior team's banking heritage, deep sector knowledge, and agility in complex transactions [6] Institutional Knowledge - CBHH utilizes Navatar's CRM platform to enhance firmwide institutional knowledge, allowing for better relationship management and deal execution [7][8][9] Team Background - The firm is composed of former bankers from major institutions like Goldman Sachs and UBS, bringing a distinct discipline and empathy to client relationships [10][11]

市场洞察 - 重点报道 --- Market Insights - Marquee Market Insights | Markets | Equities 市场洞察 | 市场 | 股票 Eq Positioning and Key Levels 股票头⼨及关键⽔平 Please see below for a consolidated recap of the various GS positioning metrics. 请⻅下⽅⾼盛各类仓位指标的综合回顾。 Summary: 摘要： -9.2bn last week. In the US, we have this cohort long 22bn. Estimates over the next week are mostly for sale in the US, but flip to buy over the next month in up and flat scenarios. 1. CTA Corner: We model CTAs long $67bn of global equities (61st percentile) after ...

市场洞察 - 重点报道 --- Market Insights - Marquee Market Insights | Markets | Equities View from Our Desk: NDX short-dated topside is too low to SPX. We like owning upside there as the spread to SPX in implied terms is trading at close to 5 year lows. Trade idea: QQQ 11Jul 103% Call at 12.9v (~13bps) 我们的观点：纳斯达克 100 指数短期看涨期权的顶价相较标普 500 指数 过低。我们看好该处的上涨机会，因为其隐含波动率与标普 500 的价差 接近五年低点。交易建议：买⼊ QQQ 7 ⽉ 11 ⽇到期，⾏权价为 103% 的 看涨期权，隐含波动率为 12.9 （约 13 个基点）。 1/22 市场洞察 - 重点报道 --- Market Insights - Marquee 市场洞察 | 市场 | 股票 GS Flow of F ...

Global Economic Briefing M Global Idea Global Tariffs: Timelines to Consider June 30, 2025 04:00 AM GMT With a series of tariff deadlines approaching, this note reviews historical experiences of trade negotiations to help set expectations and identify what we will be focusing on in the outcomes. We also consider how the negotiations affect the transmission of tariffs to economic data. Key Takeaways The timing of tariff impact on the economy will be affected by the actual application of tariffs as well as th ...