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 M Idea April 2, 2024 10:05 PM GMT Asia EM Equity Strategy | Asia Pacific Morgan Stanley Asia (Singapore) Pte.+ Daniel K Blake Equity Strategist Alpha, Beta, Thematic Biweekly Daniel.Blake@morganstanley.com + 65 6834-6597 Jonathan F Garner Equity Strategist – NISA Surge into Japan's Jonathan.Garner@morganstanley.com + 65 6834-8172 Kristal Ji Equity Strategist Secular Bull Market and Asian Kristal.Ji@morganstanley.com + 65 6834-6949 Morgan Stanley Asia Limited+ Equity Supply/Deman ...

更多资料加入知识星J球P：水M木调O研纪要R 关G注公A众号：N水木纪要 Global Emerging Markets Research 08 April 2024 Emerging Markets Outlook and Strategy Broadening growth helps EM weather higher core rates Key topics Emerging Markets Strategy Luis Oganes AC • An improving global growth outlook helps provide offsets for EM assets to (44-20) 7742-1420 higher US yields. luis.oganes@jpmorgan.com J.P. Morgan Securities plc • Our recommendations remain OW EM FX, OW EM local rates (in smaller Jonny Goulden AC size) and MW in EM credit, with a b ...

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 Kunj J PadhAC(1-212) 834-5108 James Nelligan (44-20) 3493-6829 Global FX Strategy JPMORGAN kunj.padh@jpmchase.com james.nelligan@jpmorgan.com J.P. Morgan Securities LLC J.P. Morgan Securities plc 05 April 2024 Patrick R Locke (1-212) 834-4254 Octavia Popescu (44-20) 3493-5654 patrick.r.locke@jpmchase.com octavia.popescu@jpmorgan.com J.P. Morgan Securities LLC J.P. Morgan Securities plc Macro Trade ity data continues to point to a strong US economy (including this weeks NFP relea ...

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 M Update April 8, 2024 04:46 AM GMT Global Macro Strategy | Global Morgan Stanley & Co. LLC Zoe K Strauss Strategist Global FX Positioning: Slight Zoe.Strauss@morganstanley.com + 1 212 761-0407 Andrew M Watrous Strategist reduction in long USD positions Andrew.Watrous@morganstanley.com + 1 212 761-5287 Morgan Stanley & Co. International plc+ ahead of US CPI David S. Adams, CFA Strategist David.S.Adams@morganstanley.com +44 20 7425-3518 Wanting Low Strategist Wanting.Low@morganst ...

Global Research and Evidence Lab 5 April 2024 Global Equity Strategy Facts and Figures: Utilities – six reasons to focus on the Transmission and Distribution companies There are six reasons why we think investors should focus on utilities (especially in Europe) with a preference for the Transmission and Distribution (T and D) companies. 1) Cyclicals as a whole are pricing in a lot of good news The price ratio of cyclicals relative to defensives is discounting extremes in PMIs. The best measure of value has ...

更更多多资资料料加加入入知知识识星星J球球P：：水水M木木调调O研研纪纪要要R 关关G注注公公A众众号号：：N水水木木纪纪要要 Asia Pacific Economic Research 07 April 2024 China: FX reserves beat again Gold price onshore signals CNY depreciation pressure, but more depends on PBOCs CNY fixing Chinas FX reserves delivered upside surprise again in March, rising US Emerging Markets Asia, Economic $19.8bn to $3,245.7bn. It compares to our forecast for a tick lower to US and Policy Research $3,223.5bn, pointing to 1) larger-than-expected trade surplus or current account Ting ...

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 ab Global Research and Evidence Lab 5 April 2024 European Economic Comment Economics Eurozone: Retail sales disappoint again in Europe including UK February Franziska Fischer Economist franziska.fischer@ubs.com +41-44-239 2054 Retail sales fell 0.5% m/m in February, after stagnating in January Reinhard Cluse In February, Eurozone retail sales continued their weak trend of the past two months, Economist falling by 0.5% m/m (-0.7% y/y), slightly weaker than consensus (-0.4% m/m). ...

Accessible version 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 Anything But Bonds Scores on the Doors: crypto 50.4%, oil 20.9%, commodities 11.8%, gold 10.5%, stocks 6.9%, US dollar 2.8%, cash 1.4%, HY bonds 1.4%, IG bonds -0.8%, govt bonds -3.3%. 0 4 April 2024 Investment Strategy Zeitgeist: “This is the moment in rally when bears start to talk about their longs.” A bull. Global Zeitgeist: “It’s different this time…it always is at new highs.” A bear. Zeitgeist: “They just jacked up my rent 20%...I’ll have ...

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 M Idea April 8, 2024 04:54 PM GMT Asia Economics | Asia Pacific Morgan Stanley Asia Limited Chetan Ahya Chief Asia Economist The Viewpoint: What if rate cuts Chetan.Ahya@morganstanley.com +852 2239-7812 Derrick Y Kam Asia Economist are delayed? Derrick.Kam@morganstanley.com + 65 6834-8272 Jonathan Cheung Economist Jonathan.Cheung@morganstanley.com +852 2848-5652 Across the region, real rates are rising given lower inflation. As long as central banks begin to cut rates from June- ...

更多资料加入知识星J球P：水M木调O研纪要R 关G注公A众号：N水木纪要 Global Economic Research 05 April 2024 Global Data Watch Economic and Policy Research Bruce Kasman (1-212) 834-5515 • Growth and inflation resilience raise odds of high-for-long soft-landing bruce.c.kasman@jpmorgan.com Joseph Lupton • Yen weakness bolsters July BoJ hike; upside risks to 1H24 China GDP (1-212) 834-5735 • Firming PMIs point to growth upturn in EMAX joseph.p.lupton@jpmorgan.com • Up next: US Mar CPI (Wed); ECB (Thu), BoC (Wed), BoI (Tue) Michael S Hanson (1 ...