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开源证券：基础化工行业深度报告：战略资源+新能源双轮驱动，磷化工迎来需求结构重塑、新旧动能加速转换

磷化工：战略资源和新能源双轮驱动，看好磷化工新旧动能加速转换本篇报告是我们的第三篇磷化工行业深度报告。从产业链看，2025年以来，上游磷矿石价格高位坚挺运行、高低品位价格分化，硫磺（硫酸）价格涨幅明显，成本端支撑强劲。下游磷化工产品运行分化，其中黄磷、磷铵、磷钙、磷酸钠盐等传统产品增量有限，“磷矿石-磷酸-磷酸铁（锂）”产业链发展向好，叠加美国战略立法驱动磷资源升级，我们认为中国磷化工行业正处于一个新旧动能转换的关键时期，“采、选、加”一体化龙头企业资源、技术优势显著，迈向资源价值重估与产业链...

2026-06-10 0 6.27MB 54页
申港证券：汽车行业研究周报：政策聚焦真实场景验证，人形机器人产加速商业化

投资摘要：每周一谈：政策聚焦真实场景验证人形机器人产加速商业化近期，工业和信息化部办公厅、国务院国资委办公厅联合发布了《关于联合开展2026年度人形机器人与具身智能实景实训专项行动的通知》，明确推动人形机器人与具身智能产品在真实生产生活环境中常态化部署应用，加速实现规模化发展。政策目标包括：构建实景实训空间、组建创新应用联合体、推进作业技能攻关、完成应用部署验证。到2026年底，人形机器人等重点产品在一批代表性场景中率先完成应用验证和常态部署，开启“作业模式”；凝练形成百个以上高价值应用场...

2026-06-10 0 774.66KB 8页
申港证券：食品饮料行业研究周报：白酒或加快筑底，即时零售增长领先

投资摘要：每周一谈：白酒或加快筑底即时零售增长领先贵州茅台持续进行产品市场化调价，白酒或进入加快筑底阶段。上周白酒Ⅲ指数下跌明显、周跌幅4.65%，年初至今申万食品饮料指数涨跌幅位列各行业第27位，板块或呈现对资金吸引力不足局面，板块情绪持续不振。我们认为，下跌中行业或加快筑底，分化中消费的红利属性及配置价值或凸显。白酒进入消费淡季，龙头酒企仍有余力持续进行价格体系等改革。根据酒业家，近日i茅台App显示，100毫升×6的小茅台礼盒零售价调整为1819元/盒，较此前的1799元/盒上涨20元...

2026-06-10 0 893.49KB 9页
联合国贸易发展委员会：2026年霍尔木兹海峡中断：油价冲击对脆弱经济体的负担报告（英文版）

Vulnerable economies are on the front line: of 75 economies1 –least developed countries (LDCs) and small island developing States (SIDS)–65 depend on imported oil. For these countries, rising energy prices will translate into higher costs and difficu...

2026-06-10 0 912.8KB 12页
美联储：多花钱少买：2025年关税和美国家庭支出（英文版）

This paper estimates the effects of the 2025 U.S. tariffs on household spending using transaction-level data linked to tariff exposure and a tariff sentiment survey. Comparing high versus low tariff-exposed categories, we find 15 to 20 percent price ...

2026-06-10 0 1.12MB 86页
大同证券：建筑装饰行业周报：政策利好释放，建筑装饰行业景气边际回暖

核心观点权益市场震荡下行，建筑装饰跑赢沪深300指数。权益市场震荡下行，债市整体平稳偏强，海内外事件扰动市场预期。权益市场方面，指数集体回调，周初科技板块一度走强后逐级回落，资金转向煤炭、银行等低估值高股息防御板块，科技成长普遍回调，仅光通信等细分方向表现突出，多数标的走势偏弱，仅少数防御龙头相对抗跌。债券市场方面，利率债窄幅波动，信用债延续平稳偏强格局，高评级品种配置需求旺盛，可转债随正股走弱，科技类转债内部分化。事件层面，交易所启动交易单元自查，央行就存贷款利率管理规定征求意见；美国非农数...

2026-06-10 0 4.42MB 14页
国信证券：传媒互联网周报：Anthropic正式提交IPO申请，Agent工具链持续进化

核心观点行业下跌2.70%，跑输沪深300，跑输创业板指。本周（6.1-6.6）传媒行业下跌2.70%，跑输沪深300（-1.54%），跑输创业板指（-1.98%）。其中涨幅靠前的分别为视觉中国、北投科技、世纪天鸿、宝通科技等，跌幅靠前的分别为中广天择、中体产业、博纳影业、百纳千成等。横向比较来看，本周传媒板块在所有板块中涨跌幅排名第20位。 AI资本化提速，Agent工具链持续进化。1）AI资本化进入新阶段，Anthropic正式提交IPO申请，同日Alphabet宣布800亿美元融资；2）...

2026-06-10 0 562.45KB 17页
华宝证券：2026年5月银行理财市场月报：银行理财大事记：理财多元策略创新提速，招银理财密集落子

投资要点 5月银行理财同业创新动态：招银理财本月策略创新较为密集，推出“5%权益中枢的全球固收+”架构产品，境内运用“定增量化中性”、境外包含“港股打新”，并以汇率中性管理境外债券；另一款产品采用“防御50滤波增强选股策略”，通过量化模型筛选防御性股票并主动增强，打造低波动收益曲线；推出“多元增强红利混合”产品，创新采用“12个月封闭期+12个月止盈开放期”模式，综合运用红利、科技成长及量化中性、黄金等多类策略；“嘉悦全球配置”系列则通过QIS框架纪律性进行全球大类资产动态配置，辅以商品CTA、...

2026-06-10 0 2.16MB 14页
美联储：金融自由化、繁荣和崩溃（英文版）

Financial liberalization is often seen as a way to deepen credit markets and stimulate economic growth, but it may also fuel credit booms that end in crisis. We construct a new cross-country database of banking regulation policies covering 21 regulat...

2026-06-10 0 857.54KB 88页
美联储：双重惯性、泰勒规则与货币政策渐进主义（英文版）

In recent decades, an empirically estimated double-inertial rule fits the path of changes in the federal funds rate better than a standard inertial Taylor rule. Inertial Taylor rules aim to capture monetary policy gradualism via slow adjustments in t...

2026-06-10 0 428.32KB 23页
美联储：通胀感知在消费者通胀预期中的作用：来自欧元区的证据（英文版）

Using data on euro-area household inflation forecasts from the European Commission Consumer Survey, we show that households’ perceptions of recent price changes play a key role in the formation of their inflation expectations. Such a relationship rem...

2026-06-10 0 898.29KB 56页
美联储：完美安全的数字货币的脆弱性（英文版）

Digital money differs from previous forms of money in an important way: it unbundles trust. Instead of relying on a trustworthy institution to settle payments, it relies on decentralized verification, whose cost is priced separately through congestio...

2026-06-10 0 984.25KB 70页
美联储：慢速学习（英文版）

This paper provides an analytic characterization of the speed of convergence under learning to a rational expectations equilibrium (REE) for a large class of multivariate models. We show that learning is slower when people’s beliefs about model outco...

2026-06-10 0 973.2KB 75页
牛津经济研究院：2025年安大略省各市的关税影响模型报告（英文版）

Ontario’s municipalities plan to spend approximately $26bn per year on the construction of municipal assets such as roads, water pipelines and buildings. This spending is characterised by a large number of relatively small projects distributed across...

2026-06-10 0 1.24MB 34页
世界银行：缺少证据：全球学术数据使用情况追踪（英文版）

Data-driven research on a country is key to producing evidence-based public policies. Yet little is known about where data-driven research is lacking and how it could be expanded. This paper proposes a method for tracking academic data use by country...

2026-06-10 0 3.35MB 39页
MalaysianWireless：2025年马来西亚5G与科技经济：释放尚未开发的潜力报告（英文版）

Malaysia has long been regarded as showing promise as an advanced tech hub in Southeast Asia. Telecoms in Malaysia has transitioned to 5G, with network rollout and customer adoption accelerating. The recent announcement that the government has grante...

2026-06-10 0 913.44KB 24页
思科：2025年网络安全就绪指数报告（英文版）

While AI brings promise of new possibilities, it also adds layers of complexity to an already complicated security landscape. It’s challenging for companies to both embrace and secure AI. What’s more, there’s a disconnect between general understandin...

2026-06-10 8 408.09KB 23页
阿里云：Agentic Ops已来：企业级多智能体可观测性运维实践

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2026-06-10 7 5.48MB 74页
尼尔森IQ：游戏背后的粉丝：国际足联世界杯2026TM版（英文版）

Our last FIFA World Cup 2026™ report mapped the viewership opportunity. This report uses Nielsen Sports expertise to go deeper into the audience itself: who the North American soccer fan is, what fuels their passion, and how that passion translates i...

2026-06-10 2 23.45MB 25页
William Blair：2026年威廉·布莱尔第46届增长股会议的宏观亮点报告（英文版）

Last week William Blair hosted its 46th Annual Growth Stock Conference in Chicago, a three-day event at which the CEOs or CFOs from 274 companies (251 public, 23 private) were invited to present their value propositions and update investors on the st...

2026-06-10 0 1.66MB 17页

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