Broker Research: Sector, Macro and Strategy Notes

Morgan Stanley·2026-08-14Sector

BMY.USVRTXUS major pharma·Neutral

Barclays·2026-08-14Sector

DT.USIBMKVYO.USWDAY WYFIUS software·Overweight

BofA Securities·2026-08-14Strategy

JPY·UnderweightEM FX·Overweight

Morgan Stanley·2026-08-14Sector

China financials·Overweight

Goldman Sachs·2026-08-14Macro

China·Neutral

J.P. Morgan·2026-08-13Sector

0966.HK1508.HK6060.HK6963.HKChina SMid insurers·Neutral

Nomura·2026-08-13Macro

CNY·Neutral

J.P. Morgan·2026-08-13Sector

000333.SZ2097.HK9633.HKLKNCY.USChina consumer·Underweight

Nomura·2026-08-13Sector

COHR LITEOptical transceivers·Overweight

Bernstein·2026-08-13Sector

PC CPUs·Neutral

Deutsche Bank·2026-08-13Sector

AMEBMI.USETN GEV HONIR.USLII.USNVT VRT

Goldman Sachs·2026-08-13Sector

6723.T6963.T6971.T6976.TJapan electronic components·Overweight

Morgan Stanley·2026-08-13Macro

US consumer discretionary·Overweight

J.P. Morgan·2026-08-13Sector

6690.HKChina home appliances·Overweight

Goldman Sachs·2026-08-13Sector

1797.HKEDU.USTAL.US

BofA Securities·2026-08-13Strategy

Government bonds·UnderweightHong Kong property·Overweight

J.P. Morgan·2026-08-13Sector

Power equipment·Overweight

Goldman Sachs·2026-08-13Sector

1112.HK600887.SH6186.HKA2M.AXChina infant formula·Underweight

Nomura·2026-08-13Macro

JPY·Underweight

J.P. Morgan·2026-08-13Sector

0012.HK1972.HKHKLD.SIHong Kong office·Overweight

Research: Broker notes on sectors, macro, rates and strategy

A picture is worth a thousand words

U.S. Software Raimo's Roundup: Q2 On-Cycle Earnings Recap – Greater Differentiation

FX and Rates Sentiment Survey: Yen-erated fears

China Financials: July TSF shows China is still on the path to a more sustainable level of stimulus

China: Q2 2026 BOP data show solid current account surplus

China SMid Insurance: 1H26 Preview: Quality First, Dividends Later

USD CNY fix model

China Consumer: China Marketing Feedback

Global AI Trend Tracker: Read-through on Coherent results

U.S. Semiconductors: Intel, AMD: Q226 CPU channel and share dynamics-What an interesting quarter...

Multi-Industry and Electrical Equipment: Multi Industry & Elec Equipment: DB 2026 Global Industrials Conference Wrap

JAPAN ELECTRONIC COMPONENTS SEMICONDUCTORS: Earnings summary: we expect a series of upward revisions in the next reporting season; maintain Buy on Ibiden Murata Taiyo Yuden Renesas Rohm TDK, etc

Resilience of Discretionary Consumer Demand

China Home Appliance: Marketing takeaways: Yield, resilience and the next rerating debate

CHINA EDUCATION JUL-26 TRACKER: Strong ASP increase of TAL tablets enabled by content and AI upgrades; Overseas student visa volume yoy decline narrowed

The Flow Show Strife Begins at Forty

Asia Power Equipment: Expert call takeaways on power capex cycle and data center connections

China Consumer Staples China Infant Formula Tracker Nielsen offline market decline widened to 13%

JPY Intraday Comment: The widened gap

Hong Kong Office Property: Proprietary funds are not eligible for tax breaks, but this doesn’t derail the recovery