Broker Research: Sector, Macro and Strategy Notes

Goldman Sachs·2026-09-23Macro

UBS·2026-09-23Sector

Morgan Stanley·2026-09-23Sector

CCC.USTTAN.USVIA.USNorth America Software·Overweight

Goldman Sachs·2026-09-23Thematic

HPQ.USINGM.USNTAP PENG SMCI

HSBC·2026-09-23Sector

2202.HK0688.HK1109.HK

HSBC·2026-09-23Sector

1208.HKZIJINMINING3993.HK0358.HK1258.HK

Deutsche Bank·2026-09-23Macro

Bernstein·2026-09-23Thematic

BMW.DERNO.PAMBG.DEP911.DESTLAP.PAVOLCARB.STVOW3.DE

HSBC·2026-09-23Strategy

China Info Tech·OverweightChina Materials·OverweightChina Healthcare·OverweightChina Consumer Discretionary·UnderweightChina Real Estate·UnderweightChina domestic AI compute·Overweight

HSBC·2026-09-23Sector

0688.HK1109.HKBEKE.US

Deutsche Bank·2026-09-23Sector

UBS·2026-09-23Macro

Deutsche Bank·2026-09-23Thematic

HSBC·2026-09-23Sector

CRM MSFT NOW ORCL

Goldman Sachs·2026-09-23Sector

DTE.DEUTDI.DE1U1.DEFNTN.DEIOS.DE

Bernstein·2026-09-23Sector

ARCAD.AS

BofA Securities·2026-09-23Sector

DOCS.USWKL.AS

Morgan Stanley·2026-09-23Sector

3037.TW8046.TWATS.AVMRVLGreater China Technology Hardware·NeutralABF substrates·Overweight

Nomura·2026-09-23Sector

1276.HK1801.HKSBP3692.HK6990.HKAKESO

BofA Securities·2026-09-23Sector

PGR.US

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

Commodity Analyst: Copper, Silver, PGMs_ Tariff Uncertainty Likely to Persist; Tariff Risk Builds Inventories

China Copper Foil: Feedback from recent investor conversations

Are Consumer Agents a Potential Tailwind for Vertical Software?

Americas Technology: Hardware: Enterprise AI case study: How are hardware companies using AI agents internally?

China Real Estate: Recalibrating policy expectations

China Copper Sector: Supply tightness adds fuel to valuation catch-up

China Macro: Imbalance Without Bretton Woods

Electric Revolution: Resilience-Chinese OEMs and the battle for Europe

China Strategy Tracker: Post Fed hike, AI back in focus

China Real Estate: Accelerated supply squeeze yet to be priced in

China Healthcare: Biosimilar centralized procurement: extreme price cuts unlikely

US Economic Perspectives: The underappreciated AI spillover

German Defense: An Ecosystem in Transformation,Half the Industry is Invisible. We are Changing that.

US Technology Q2 takeaways: Enterprise software returns

15th German Corporate Conference — Key Telco Takeaways

European Technology Software: Civil engineering services sector: A look back at the results for the quarter ending June

Media & Internet The AI will see you now: A deep dive into AI’s impact on clinical decision support

Greater China Technology Hardware: ABF substrates – AT&S announces expanded collaboration with Marvell-260923 (1)

China healthcare: 2026 CSCO Annual Meeting takeaways

U.S. Insurance AI revolution A quick history of insurance