Research

Research Intelligence

Turning structured cross-asset research into clear outlooks, actionable insights and institutional content.

Disciplined research • Actionable insights • Real opportunities • Clarity drives confidence

Monthly outlook

November 2026

Resilience Meets Fiscal and Financial Fragility

Global economic resilience persists, but uneven expansion, fiscal credibility and restrictive financial conditions increasingly shape cross-asset performance. November's outlook emphasises selective risk assessment, the interpretation of yield movements and differentiation across underlying economic and financial drivers.

Fiscal Credibility
Financial Conditions
Cross-Asset Dispersion

FX outlook

November 2026

Selective Dollar Resilience & Policy Divergence

Restrictive US monetary policy supports selective dollar resilience, while European fiscal fragmentation and divergent monetary conditions shape bilateral currency dynamics. November's outlook highlights differentiated currency prospects, with cyclical recovery signals remaining conditional and yield convergence posing risks to dollar strength.

Dollar Resilience
Fiscal Differentiation
Monetary Divergence

Commodities outlook

November 2026

Selective Strength, Divergent Drivers

Commodity markets remain differentiated as geopolitical supply risks, structural demand and restrictive financing conditions influence performance across major clusters. November's outlook distinguishes potentially temporary energy disruptions from more persistent demand drivers, while monetary sensitivity and commodity-specific supply dynamics sustain selective opportunities.

Supply Disruptions
Structural Demand
Monetary Sensitivity

Equity outlook

November 2026

Selective Equity Leadership | Sector Confirmation Diverges

Equity leadership remains selective as restrictive financing conditions and uneven sector confirmation differentiate opportunities across US and European markets. November's outlook highlights the distinction between constructive structural prospects and confirmed market strength, with defensive fundamentals and sector-level evidence shaping conviction.

Sector Rotation
Market Confirmation
Defensive Fundamentals

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Single-asset research

Asset-Specific Research for a More Informed Tomorrow

In-depth, institutional research on individual assets, with clear investment insights, key drivers, scenarios and risks.

Not coverage for the sake of coverage. Research when the asset has something worth saying.

FX
November 2026
USD/JPY
Dollar Resilience Confronts Japan’s Monetary Normalisation
Preview
Commodities
November 2026
WTI Crude Oil
Geopolitical Supply Risk Supports the Near Term, but Normalisation Limits Longer-Horizon Conviction
Preview
FX
November 2026
EUR/USD
Dollar Resilience and European Fiscal Risks Challenge a Conditional Euro Recovery
Preview
Sectors
November 2026
European Health Care
Defensive Strength and Relative Leadership Await Technical Confirmation
Preview
FX
November 2026
USD/CHF
Dollar Resilience Meets the Defensive Swiss Franc
Preview
Commodities
November 2026
Gold
Defensive Value Persists, but Technical Weakness Challenges the Recovery
Preview
Commodities
November 2026
Copper
Structural Demand Meets Cyclical Constraints
Preview