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The desk research, the way the analysts wrote it. 分析师原文研报，原汁原味呈现。

Showing the latest saved institutional reports.Refreshing the latest institutional reports. New buy-side and sell-side desk reports land here hourly — read the ones that touch what you hold. 正在显示最近保存的机构研报。正在刷新最新机构研报。买方与卖方研究每小时更新至此 —— 挑与你持仓相关的读。

The research the desks write for their clients — now on yours. 机构写给客户的研报 —— 现在也在你手中。
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Refreshing the latest reports…正在刷新最新研报…
MizuhoSell-side卖方

Strategy Daily 2026 10 15

  • Fed Hike Odds Repricing: Core CPI beat triggered hawkish repricing (2y yields +4.77%→4.95%, 5s30s compressed 56bp→47bp), Fed hike odds at 36%, with swap spreads widening (30y at -63.5bp) and risk-off flows reversing post-CPI.
  • Futures-Driven Bull-Flattening: 7-20y sector rallied (2y yields 1.905% vs 5y -5bp, 10y -7.5bp, 20y -8bp) amid futures extension, confirming price action driven by futures flows—not strong cash demand.
  • Ultra-Long Lag Confirms Risk-Off: 30y/40y yields (3.980%/4.090%) lagged 20y rally (8bp), with selling across 5y/10y/20y sectors, indicating futures/risk-off led move, not fundamental demand.
Oct 15, 2026 · 08:59 UTC
J.P. MorganSell-side卖方Highlighted精选

JPM US Market Intelligence | Afternoon Briefing Oct 14

  • CPI Surprise & Inflation Pressure: Core CPI at 0.335% MoM (7bp above estimates), largest upside surprise since March 2024, driving hawkish Fed pricing (50% Oct hike probability) and spiking 2Y yields 16bp; core PCE forecast at 0.31% m/m (3.1% yoy) signals persistent inflation.
  • AI Credit Fears & Tech Selloff: AI-driven sector rotation triggered by credit distress (CoreWeave -15.5%, ASML memory underperformance), with Semis (SOXX down 6 days) and banks (BAC -5.5%) leading declines; AI credit event concerns fueling spread widening.
  • ETF Flow Shifts & Sector Rotation: Capital flowing into energy/growth ETFs (MLPX, IEO, IVF) and global EM ETFs (ACWI, VT, VXUS) amid CPI-driven volatility, while defensives (healthcare/staples) outperformed cyclical tech by 7.0%.
  • Fed Rate Probability Volatility: Post-CPI, Oct hike probability surged to 50% (from 20%), then reversed to ~32%; bond yields showed confusion (2Y +2bp, 10Y -2bp), reflecting Fed signal uncertainty and overreaction to inflation data.
Oct 15, 2026 · 08:52 UTC
JefferiesSell-side卖方

Jefferies European Equity Daily

  • ASML Margin Outlook: Gross margin strength into 2027 critical for tech sector valuation; 2028 trends uncertain due to industry cyclicality (fundamentals) - China Credit Growth: Record low credit growth pivotal geopolitical data affecting commodity markets and portfolio risk exposure (geopolitics/data) - Nordea Bank Buybacks Paused: ECB model review halts buybacks; ROE 15.1% vs. 6% target (key risk factor) - Ashmore Group AUM & Flows: $54.5bn AUM (vs.
  • $54.2bn cons), net inflows split equally across fixed income/equities; redemptions lowest quarterly in 15 years (flows) - KION Weak Q3 & Guidance Cut: Q3 sales weak, 2026 guidance cut due to continued demand slump; valuation pricing in difficult outcome (risk factor)
Oct 15, 2026 · 08:45 UTC

2953 more institutional reports还有 2953 篇机构研报

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Not investment advice. The Research Vault hosts third-party institutional research for reference and education. Highlighted reports are chosen for the quality of their argument, not as recommendations to buy or sell. Documents are provided by their authors; ratings and views are the authors', not ours. Access is metered and every download is watermarked — not for redistribution. 非投资建议。研报库仅收录第三方机构研究，供参考与学习之用。精选报告因其论证质量入选，并非买卖建议。文档由作者提供，其中评级与观点均属作者本人，与本平台无关。访问受配额限制，下载均加水印 —— 不得转发。

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