Research Vault — Institutional Desk Research

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

Institutional research is being onboarded. New buy-side and sell-side desk reports land here hourly — read the ones that touch what you hold. 机构研报正在接入。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。

—

New this week本周新增

—

Desks publishing在发机构

—

Most-covered theme覆盖最多主题

—

In the vault库内总量

JPJ.P. MorganSELL

JPM US Market Intell Morning Briefing

**Fed Policy Ambiguity**: Warsh's vague 2% PCE commitment and focus on balance sheet shrinkage over rates risk quicker yield curve steepening, TIPS widening, and dollar weakness amid inflation measurement uncertainty.
**MAG7 Valuation Compression**: Median forward P/E at 17.49 (vs.
high 37.15) signals compressed expectations with elevated volatility, heightening risk if AI capex ROI questions persist.
**NDX Correction & Deleveraging**: NDX in official correction (11% from June highs); tech/semiconductor deleveraging accelerating faster than anticipated, with hedge funds unwinding April/May gains.

Jul 30, 2026 · 12:36 UTC

JPJ.P. MorganSELLHighlighted

JPM US Market Intell Afternoon Briefing 29.07

**Geopolitical Escalation**: Iran's attack on US forces and tanker triggered 7% oil surge, SPX/NDX/RTY reversal, 10Y yields to 4.677%, amplifying risk-off sentiment and dampening US-Iran MOU optimism.
**Critical Data Catalysts**: Tomorrow's US PCE (3.75% YoY), Core PCE (3.4%), 2Q GDP (2.0% QoQ), and earnings (AAPL, AMZN, BMY) dominate positioning; global events (BOE, China PMI, Eurozone GDP) drive macro shifts.
**Inflation Stickiness**: P&G cites production cost-driven sticky inflation; JPM Econ forecasts CPI at 3.5% Q3, 3.6% Q4, declining to 1.9% by Q2 2027, with corporate inflation outpacing consumer energy effects.
**Tech Earnings & AI Dynamics**: Meta Q3 revenue met expectations but 2026 Opex increased; AI infrastructure/security software (JP2INFSF, JP2SESF) favored over application software (JP2APSF) due to capex tailwinds and client disruption risks.

Jul 30, 2026 · 12:26 UTC

JPJ.P. MorganSELLHighlighted

JPM US Market Intell Afternoon Briefing 29.07

**Geopolitical Escalation Impact**: Iran's attack on US forces and tanker triggered 7% oil surge, SPX/NDX/RTY reversal, 10Y yields to 4.677%, amplifying risk-off sentiment and dampening US-Iran MOU optimism.
**Critical Data Catalysts**: Tomorrow’s US PCE (3.75% YoY), Personal Income, 2Q GDP (2.0% QoQ), and tech earnings (AAPL, AMZN, BMY) dominate positioning; global events (BOE, China PMI, Eurozone GDP) add macro pressure.
**Inflation Stickiness & Corporate Headwinds**: P&G cites sticky inflation from production costs (vs.
energy), JPM Econ forecasts CPI 3.6% Q4 → 1.9% Q2 2027; $1B after-tax energy cost impact from oil >$100/bbl.

Jul 30, 2026 · 12:25 UTC

389 more institutional reports还有 389 篇机构研报

You’re previewing the latest three summaries. Upgrade to Pro to open every desk and read the full PDFs.你正在预览最新三篇摘要。升级 Pro 即可查看全部机构研报并阅读 PDF 全文。

Upgrade to Pro升级 Pro

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

Highlighted this week本周精选

JPM US Market Intell Morning Briefing

JPM US Market Intell Afternoon Briefing 29.07

JPM US Market Intell Afternoon Briefing 29.07

Pro research report

389 more institutional reports还有 389 篇机构研报