Overseas
1. Goldman Sachs: Geopolitical risks will push up oil prices, and Brent may face a risk premium of $10 per barrel.
2. Fitch: The US fiscal outlook remains challenging.
3. MUFG: If the US announces its involvement in the Iran-Israel conflict, the US dollar may fall.
Domestic
1. CICC: The Fed will not act rashly in the face of inflation.
2. CITIC Securities: The Fed is expected to cut interest rates less than or equal to 2 times this year.
3. CITIC Securities: L3 is expected to become the main upgrade direction of intelligent driving from the fourth quarter of 2025 to 2026.
4. CMB Macro: The Fed's forward-looking judgment on stagflation risks is the reason for its reluctance to cut interest rates.
5. West China Securities: The market has returned to a volatile pattern again, and there is a certain pressure to cash in upward.
6. Minsheng Macro: It is expected that the US hard data will make up for the decline in the second half of the year, and "stagnation" will become the fuse for the Fed's change of direction.
