Broker Research: Sector, Macro and Strategy Notes

Bernstein·2026-10-08Sector

AMT.USCCI.USSBAC.USSPCX

Deutsche Bank·2026-10-08Sector

3800.HK2865.HK600438.SH

Bernstein·2026-10-08Sector

CARR JCI NVT TT VRT

Nomura·2026-10-08Macro

CNY: PBoC reluctant to allow fast nominal appreciation2026

J.P. Morgan·2026-10-08Strategy

Goldman Sachs·2026-10-08Macro

Deutsche Bank·2026-10-08Macro

Goldman Sachs·2026-10-08Strategy

MXAPJ long-run annual earnings growth: raised to 10% from 9%10-year

Morgan Stanley·2026-10-08Sector

US Midcap Banks·Overweight

J.P. Morgan·2026-10-08Sector

MRK REGN

Goldman Sachs·2026-10-08Macro

NYMEX natural gas price: bearish vs forwardsWinter 2026-27NYMEX natural gas price: bearish vs forwardsSummer 2027

Goldman Sachs·2026-10-08Strategy

AR.USBKR.USCOPDINO.USDUK.USGLNG.USOXY PR PWRTRP.USUS refining·OverweightPower & LNG infrastructure·Overweight

Bernstein·2026-10-08Sector

ANET CIEN COHR CSCO GLW LITE

Bernstein·2026-10-08Sector

SMSN2303.TW2330.TW2454.TWMediaTek·Top pickAsia semiconductors·Overweight

Goldman Sachs·2026-10-08Sector

PPC.ATRWE.DESLR.MC

BofA Securities·2026-10-08Sector

6502.TSTX WDC

Bernstein·2026-10-08Sector

BRBY.LCFR.SWKER.PAMC.PARMS.PA

Nomura·2026-10-08Thematic

J.P. Morgan·2026-10-08Sector

UNITREE002747.SZ300124.SZ9880.HKGlobal humanoid robot shipments: raised2030EChina industrial robot shipments: raised2026E

Barclays·2026-10-08Macro

CGBs vs CNY NDIRS·OverweightChina GDP growth contribution from AI: ~0.8ppt in 20262026China GDP growth contribution from AI: ~0.5ppt in 20272027

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

US Communications Infrastructure: Quick Take: SPCX buying low-band spectrum, good for towers

China Solar Sector: Improving supply discipline supports market rebalancing

U.S. Multi Industry & Electrical Equipment Data Center Cooling: Accelsius on the transition from singlephase to two-phase liquid cooling

Asia Insights: China: The PBoC’s stance on RMB and global imbalances

Retail Radar Oct 7 – Seasonally stronger, Tech back in focus

Oil Analyst: China Petchem Oil Demand Weakness Likely Mostly Unsustainable

dbMetals: The Whole Flow Report

Global Strategy Paper: Investing in a differentiated Asia

Midcap Banks & Large Cap Banks: The Case for Consolidation Is Building

REGN MRK: Takeaways From Recent Retina Expert Call

Natural Gas Comment: Despite Tight Salt Storage, Strong Permian Production Likely to Keep Winter Comfortable

AMERICAS ENERGY: Ten Stock Ideas We Are Constructive on Across Energy & Power Heading into the Fourth Quarter

US Networking Connecting the dots... A primer on networking equipment in the age of AI

Asia Semis & Global Memory: 3Q26 Earnings Preview-Is AI Still a Long?

POWERING UP EUROPE: Datacenter Economics and the Rise of DC Infrastructure Services

IT Hardware Industry: Expert Call Series Takeaways: HDD LTA dynamics & thoughts on Toshiba

Global Luxury Goods Global Luxury Goods Mega-Transect: Consumer Engagement Continues to Improve Despite Challenging Backdrop

China Internet & New Media: Moonshot AI: scaling intelligence with efficiency

JPM Robotics & Factory Automation: Unitree initiation, Inovance Estun UBTech downgrades – Where are the opportunities?

China AI Watch: More growth, less reflation