Broker Research: Sector, Macro and Strategy Notes

Goldman Sachs·2026-08-22Strategy

0780.HK9903.HK

Goldman Sachs·2026-08-22Strategy

China H-shares·Overweight

Goldman Sachs·2026-08-21Sector

4151.T4502.T4528.T4543.T4568.TJapan healthcare·Neutral

Goldman Sachs·2026-08-21Macro

China on-budget fiscal revenue growth: Ministry of FinanceJul-2026China on-budget fiscal expenditure growth: Ministry of FinanceJul-2026

Goldman Sachs·2026-08-21Macro

Gold price: upend-2026

Goldman Sachs·2026-08-21Macro

Goldman Sachs·2026-08-21Strategy

BA COF MA TMO VUS Financials·Overweight

Goldman Sachs·2026-08-21Macro

DM composite flash PMI: S&P GlobalAug-2026Euro area manufacturing flash PMI: S&P GlobalAug-2026

Goldman Sachs·2026-08-21Macro

Agency MBS lower coupons·Neutral

Goldman Sachs·2026-08-21Sector

EME.USFIXLGN.USUS data center construction·OverweightUS data center construction spending: up2026

Goldman Sachs·2026-08-21Macro

China real GDP growth: down3Q26

Goldman Sachs·2026-08-21Macro

USD·UnderweightTRY·OverweightUSD/TRY: GS forecast12m

Goldman Sachs·2026-08-21Sector

KAP.LUEC

Goldman Sachs·2026-08-21Strategy

Japan banks·OverweightCross-shareholding unwind·Overweight

Goldman Sachs·2026-08-21Sector

2367.HK4911.TEL.USOR.PAChina premium/derma cosmetics·Overweight

Goldman Sachs·2026-08-21Sector

MIN.AXNEM.AXPDN.AXPLS.AX

Goldman Sachs·2026-08-21Macro

US Treasuries (belly)·UnderweightUS yield curve·Overweight

Goldman Sachs·2026-08-21Strategy

India·Neutral

Goldman Sachs·2026-08-21Thematic

IRM.USMCO.USMDB MSFTRBRK.USSPGI

Goldman Sachs·2026-08-21Macro

Korea exports: upAug-2026

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

ASIA INDEX STRATEGY: Hang Seng Indexes Rebalancing Review and Flow Implications (September 2026)

CHINA WEEKLY KICKSTART: MXCN gained 3% while A-shares lost 1%; Unitree Robotics made debut on STAR Board; HSI review results announced; July activity data broadly weakened

Japan Healthcare: Catalyst Watch: Focus on potential for business briefings and pipeline data to impact company outlooks

China: Strong fiscal revenue and slower spending led to a narrower deficit in July

Precious Comment: Gold: Renewed Elevated Call Option Demand Raises Volatility and Upside Price Risk

Global Markets Daily: Jackson Hole: Roadmap 2026

US WEEKLY KICKSTART: Hedge funds and mutual funds differ on AI but converge on Financials

Global PMI Monitor: Manufacturing Employment Rises in Europe

MORTGAGE & STRUCTURED PRODUCTS TRADER: Rate sensitivity in focus

AMERICAS ENGINEERING & CONSTRUCTION GS Data Center Construction Spending Tracker: Texas leads, new markets emerge

CHINA MATTERS: From Weak to Weaker

GLOBAL FX TRADER: Tinker Taylor Holder Why

Americas Uranium: Read-across from Kazatomprom 1H26 results and 2026 production guidance

JAPAN WEEKLY KICKSTART: Keeping up with the Japanese indices; cross-shareholding unwind momentum remains strong

Global cosmetics read-across: 2Q26 saw selective recovery on premium & derma in China; Global peers target sustained growth into 2H; Hainan recovery continued yet slowing down

Australian Gold, Lithium & Uranium Coverage: Coverage Summary, Forecasts and Spot Pricing Scenarios

GLOBAL RATES TRADER: Macro Problems, Micro Solutions

INDIA WEEKLY KICKSTART: NIFTY closed flat w w despite rising bond yields and oil prices; Hawkish tone in RBI MPC Minutes; FCNR (B) deadline brought forward; Inflecting foreign flows

AMERICAS TECHNOLOGY: Takeaways From Our 3rd Annual Silicon Valley AI Field Trip

South Korea: Rebound in Early August Exports, Led by Accelerating Chip Demand