Broker Research: Sector, Macro and Strategy Notes

Goldman Sachs·2026-09-07Sector

2313.TW2383.TW4958.TW6274.TW

Goldman Sachs·2026-09-07Sector

1919.HK2510.HK

J.P. Morgan·2026-09-07Strategy

Global equities·OverweightEmerging markets·Overweight

Goldman Sachs·2026-09-07Strategy

Global equities·OverweightGovernment bonds·NeutralCommodities·Neutral

Morgan Stanley·2026-09-07Macro

Fed policy rate easing: MS forecast2027

Bernstein·2026-09-07Sector

CON.DEML.PASTLAM.MIMichelin·OverweightRACE.US·OverweightStellantis·Underweight

Goldman Sachs·2026-09-07Sector

1318.HK603605.SHMao Geping·Overweight688363.SH·Underweight

Barclays·2026-09-07Sector

AUTO.OLJUN3.DEKGX.DEEuropean capital goods·NeutralWarehouse automation·Overweight

Goldman Sachs·2026-09-07Strategy

European equities·Overweight

Morgan Stanley·2026-09-07Strategy

AI computing·OverweightAI networking·OverweightLegacy memory·Overweight

Barclays·2026-09-07Sector

AIR.PABAWide-body OE·OverweightGlobal RPK growth: IATA forecast2026

Morgan Stanley·2026-09-07Sector

AEIS.USMKSI ONTOAdvanced Energy·OverweightMKS·OverweightUS semicap·Neutral

Morgan Stanley·2026-09-07Thematic

AI inference·Overweight

Nomura·2026-09-07Strategy

China A shares·NeutralChina tech·Overweight

Goldman Sachs·2026-09-07Sector

0939.HK1398.HK3328.HK3988.HKCCB·OverweightBank of China·OverweightBank of Communications·Underweight

Goldman Sachs·2026-09-07Sector

DRX.LNDX1.DERWE.DESLR.MCEuropean utilities·OverweightEuropean renewables·Overweight

Bernstein·2026-09-07Sector

4568.T6990.HKAZN.LGILD MRK

Bernstein·2026-09-07Sector

BEI.DEBN.PAHLN.LOR.PAEuropean food & HPC·Neutral

Barclays·2026-09-07Sector

DANO.PAOREP.PAULVR.LUnilever·OverweightEuropean consumer staples·Neutral

Goldman Sachs·2026-09-07Sector

MCO.USSPGIUS investment grade gross issuance: GS forecast2026

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

Taiwan PCB_CCL_ Compeq mgmt visit_ Optical transceiver to be the key growth driver, with high ASP_volume_GM expansion potential

Transportation: Shipping,NDR takeaways: resilient demand on EU US routes could sustain to end-Sept, while port congestion in East China could ease if weather improves

Equity Strategy: Regional calls: Non-US is ahead so far ytd;EM vs DM is working again

GOAL Kickstart: Summer rotation moderation with higher yields and commodities

US Economics Outlook: Capex over consumption

European Automobiles & Components Electric Revolution: Resilience - Legacy suppliers' important and undervalued role in a shifting global automotive world

CHINA COSMETICS: 1H26 2Q26 wrap: Online margin pressure persists and offline remains resilient; 2H26 key to watch for local players vs MNCs

European Capital Goods: Warehouse automation: Healthy demand + stabilising macro estimates = room to re-rate

GLOBAL WEEKLY KICKSTART: Resilient Growth, Uncertain Macro

Which Al Bottleneck To Invest In-

Global Aerospace: Data Tracker & Forecast Guide

Semiconductor Capital Equipment 7 Debates on SPE

The Morgan Stanley AI Guidebook-Navigating the Age of Inference

China A-share strategy: A-share fundamentals improve further in 2Q26

CHINA BANKS: Addressing the second round of large bank recapitalization

European Utilities: Back to School: A bias for Renewables

Global Biopharma: Datroway vs sac TMT in 1L NSCLC - the question is triplet or doublet, not which is better

European Food & HPC: The Billion Dollar Brand is dead, long live the Billion Dollar Brand

European Consumer Staples: Postcard from Shanghai

August debt issuance improves as US investment grade outlook moves higher