Junior Finance Analyst, Steno Research

Ulrik Simmelholt

Junior Finance Analyst

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Cross Asset Strategy

<ul><li>We’ve received loads of feedback from our clients regarding our Trump versus Biden basket.</li><li>As a result, we will provide a detailed breakdown of both baskets and explain the rationale behind each.</li><li>We are updating the baskets regularly based on the political proposals of the two candidates.</li></ul>

We’ve received loads of feedback from our clients regarding our Trump versus Biden basket.As a result, we will provide a detailed breakdown of both baskets and explain the rationale behind each.We are updating the baskets regularly based on the political proposals of the two candidates.

Equity Watch: The Trump versus Biden Basket

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Mega-Cap growth names such as AMZN, TSLA, MSFT, GOOGL, and META have picked up the slack as semiconductors (SMH, SOXX, NVDA, AVGO, etc.) are simply consolidating after getting extended.</li>
<li>This was a possibility we discussed in last week's Compass (6/25/24), which means we are not seeing any lasting rotation away from large-cap growth.</li>
<li>We remain bullish on all names listed (including the semiconductors), and we continue to recommend an overweight to large-cap growth (relative to value) as initially discussed in our 5/29/24 Compass</li>
</ul>


Mega-Cap growth names such as AMZN, TSLA, MSFT, GOOGL, and META have picked up the slack as semiconductors (SMH, SOXX, NVDA, AVGO, etc.) are simply consolidating after getting extended.
This was a possibility we discussed in last week's Compass (6/25/24), which means we are not seeing any lasting rotation away from large-cap growth.
We remain bullish on all names listed (including the semiconductors), and we continue to recommend an overweight to large-cap growth (relative to value) as initially discussed in our 5/29/24 Compass


Remain Overweight Large-Cap Growth; Downgrading Materials to Underweight; Software Buys $MSTR $CRWD

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

<ul><li>Technically, the SET Index is expected to move sideways, with the support at 1,378/1,373 points and the resistance at 1,387/1,395 points (50-day and 75-day EMAs), pending clarity on the FOMC meeting (the result will be known tonight).</li><li>KTX anticipates the Fed to reduce the policy interest rate for the first time in 4Q24E and adjust the dot plot to indicate one rate cut (vs. three rate cuts previously).</li><li>KTX views that for China to achieve its 5% growth target this year, the authorities must employ more robust measures than those utilized last year.</li></ul>

Technically, the SET Index is expected to move sideways, with the support at 1,378/1,373 points and the resistance at 1,387/1,395 points (50-day and 75-day EMAs), pending clarity on the FOMC meeting (the result will be known tonight).KTX anticipates the Fed to reduce the policy interest rate for the first time in 4Q24E and adjust the dot plot to indicate one rate cut (vs. three rate cuts previously).KTX views that for China to achieve its 5% growth target this year, the authorities must employ more robust measures than those utilized last year.

Keep a Close Watch on FOMC Meeting and China's Policy Interest Rates

Independent Asian Credit Research, Bondcritic

Warut Promboon

Independent Asian Credit Research

Asian Fixed Income/Frontier Market Research

Bondcritic

Bondcritic, established in 2009, is designed to be an independent credit research voice that helps investors gain insights and unbiased analyses on Asian fixed income market. Our mission is to discover deep-value Asian high-yield and distressed bonds with a bottom-up approach, together with the help of our proprietary ESG (Environmental, Social Development, and Governance) model. At the same time, we focus on bringing investment cases of unrated and unloved issuers to the general public.

Macroeconomics

<ul>
<li>The security token market, though, has slowly developed mainly due to declining risk appetites sparked by COVID-19 in 2020 and the Russian invasion of Ukraine on 24-February 2022.</li>
<li>What has changed that led us to update readers on tokenization is the approval of Bitcoin ETFs</li>
<li>The Bitcoin ETFs will be the first step to allow institutional investors to invest in cryptocurrencies. Next, we expect more ETFs of other well-known cryptocurrencies such as Ethereum (ETH).</li>
</ul>


The security token market, though, has slowly developed mainly due to declining risk appetites sparked by COVID-19 in 2020 and the Russian invasion of Ukraine on 24-February 2022.
What has changed that led us to update readers on tokenization is the approval of Bitcoin ETFs
The Bitcoin ETFs will be the first step to allow institutional investors to invest in cryptocurrencies. Next, we expect more ETFs of other well-known cryptocurrencies such as Ethereum (ETH).


Security Token Journal: Bitcoins to the Mass

Global Commodities, Mint Finance

Srinidhi Raghavendra

Global Commodities

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>Financial majors – Goldman, Morgan, HDFC, and Interactive Brokers announce results. Charles Schwab reports on 17/Jan and Schlumberger reports on 19/Jan.</li>
<li>On economic data, data from USA, China, and Japan will provide strong insight into the health of consumers and businesses there.</li>
<li>An iPhone that got sucked out of Alaskan Air when the door of a Boeing jet came unstuck fell 5,000m but landed without a single crack on the screen.</li>
</ul>


Financial majors – Goldman, Morgan, HDFC, and Interactive Brokers announce results. Charles Schwab reports on 17/Jan and Schlumberger reports on 19/Jan.
On economic data, data from USA, China, and Japan will provide strong insight into the health of consumers and businesses there.
An iPhone that got sucked out of Alaskan Air when the door of a Boeing jet came unstuck fell 5,000m but landed without a single crack on the screen.


[TW2] Japanese Equities Soar, Spot BTC ETF Goes Live, & Rising Red Sea Tensions (W/E 12th Jan 2024)

United States

Coinbase Global, Inc. provides financial solutions. The Company offers platform to buy and sell cryptocurrencies. Coinbase Global serves clients worldwide.

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Coinbase Global (COIN US)

Equity Watch: The Trump versus Biden Basket

We’ve received loads of feedback from our clients regarding our Trump versus Biden basket. As a result, we will provide a detailed breakdown of...

Steno Research

Remain Overweight Large-Cap Growth; Downgrading Materials to Underweight; Software Buys $MSTR $CRWD

Remain Overweight Large-Cap Growth $IWF as discussed 5/29/24; Downgrading Materials $XLB to Underweight; Buy/Stay Long Software Stocks $IGV $MSFT...

Vermilion Research

Keep a Close Watch on FOMC Meeting and China's Policy Interest Rates

Technically, the SET Index is expected to move sideways, with the support at 1,378/1,373 points and the resistance at 1,387/1,395 points (50-day...

Krungthai XSpring

Security Token Journal: Bitcoins to the Mass

The Bitcoin ETFs will be the first step to allow institutional investors to invest in cryptocurrencies. Next, we expect more ETFs of other well...

Bondcritic

[TW2] Japanese Equities Soar, Spot BTC ETF Goes Live, & Rising Red Sea Tensions (W/E 12th Jan 2024)

Nikkei surges to a record. Citi reports worst quarter in 14-years. Red Sea tensions are soaring pushing sea & air freight to spike sharply....

Mint Finance

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