-- 德国商业银行周四发布的《欧洲日出》报告重点指出： 市场：美国国债在纽约交易时段走软，亚洲交易时段进一步走弱。德国国债期货在亚洲交易时段跟随美国国债走低。标普500指数一度触及历史新高，随后迷你期货合约与疲软的亚洲股市一同强劲回落。欧元兑美元汇率跌破1.17美元。布伦特原油价格高于每桶103美元。 美国：白宫经济顾问凯文·哈塞特表示，核心通胀“正在大幅下降”，通胀下降应有助于美联储实现利率正常化。哈塞特设想在缩减资产负债表的同时降息。他非常有信心参议院将确认凯文·沃什出任美联储新任主席，并希望现任主席杰罗姆·鲍威尔在确认后“卸任”。 伊朗战争：白宫新闻秘书卡罗琳·莱维特表示，三到五天的停火时间表“不属实”。唐纳德·特朗普总统尚未为伊朗方案设定明确的最后期限，封锁仍然有效。她表示，欧洲方面提出对话，但并未就加入封锁采取任何行动。 伊朗战争：伊朗可能在霍尔木兹海峡及其周边地区布设了20多枚水雷，清除工作可能需要长达六个月的时间（华盛顿邮报）。 伊朗战争：伊朗总统马苏德·佩泽什基扬表示，封锁和威胁是主要障碍，但他仍然欢迎对话。 ==欧洲： 芬兰：政府就2027-2030年预算框架达成一致，其中包括到2030年削减5.2亿欧元的开支。 ==亚洲： 日本：制造业采购经理人指数（PMI）上升3.3点至54.9。
Related Articles
Research
Research Alert: CFRA Keeps Hold Opinion On Shares Of Otis Worldwide Corporation
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We cut our 12-month target to $90 from $100 following Q1 earnings, valuing OTIS shares at 19.6x our 2027 EPS outlook of $4.58 (down from $4.70; 2026 EPS view updated to $4.18 from $4.25), a modest discount to industrial machinery peers' and OTIS's five-year forward multiple average given unclear timing of ongoing margin headwinds. Service margins were disappointing in Q1 (contracting 160 bps to 23%) amid higher labor and material costs that came in above pricing. Weakness in China has yet to stabilize, though as noted in the past, this represents a shrinking area of OTIS's portfolio and will have a more limited effect going forward. Overall, the latest quarter was more of the same (China weakness/New Equipment decline), though with the added concern of margin quality being pressured within Service - the core profit driver for OTIS overall. While efforts to shore up profitability are underway, we see timing of recovery being uncertain.
$OTIS
Asia Markets
Saudi Shares Start Week Higher; US-Iran Peace Talks Canceled
The Tadawul All Share Index closed Sunday 0.11% higher as investors assessed the latest updates regarding the conflict in the Middle East.US President Donald Trump said on his Truth Social account that the Pakistani trip for his envoys, Steve Witkoff and Jared Kushner, was canceled. The announcement dimmed the hopes for peace talks between Iran and the US to happen any time soon.Further to this, Israel launched an attack in Lebanon on April 25. The strikes, which targeted Hezbollah, resulted in four casualties and facility damage in Southern Lebanon.Back at home, Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, and Thob Al Aseel (SASE:4012) posted their financial results for the three months ended March 31. Petro Rabigh emerged from a loss in the first quarter, while Thob Al Aseel logged a higher net profit and revenue."The reason for net profit reported during the current quarter compared to a net loss recorded in the same quarter of last year was primarily attributable to improved product margins resulting from stronger refined product pricing and higher sales volumes," Petro Rabigh said in its report.Petro Rabigh rose 10% at closing, while Thob Al Aseel ticked down 1.59%.Meanwhile, the local calendar will be mostly empty except for the kingdom's preliminary figures for its GDP growth rate for the first quarter and the M3 money supply and private bank lending data for March on Thursday.
$^TASI$SASE:2380$SASE:4012
Research
Research Alert: CFRA Maintains Hold Rating On Shares Of United Rentals Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our 12-month target price to $1,100 from $950 following a strong first quarter, valuing shares at 20.5x our 2027 EPS outlook of $54.28 (in line with previous estimate; 2026 EPS also in line). We believe a higher multiple is justified given URI's firming market leadership within an expanding rental equipment industry. A robust Q1 beat enabled URI to raise its full-year revenue guidance to $16.9B-$17.4B and adjusted EBITDA to $7.625B-$7.875B, citing momentum heading into a busy season. With leverage well below historical levels, we believe accretive M&A deals could serve as a potential catalyst for additional guidance increases. Margin compression has been a sticky issue for URI, but Q1 indicated that pricing may have turned around and that headwinds are starting to ease as quarterly results begin to lap when tariff-related inflation began to pick-up. We remain cautious on margins, though are encouraged by signs of stabilization. New project activity is likely supporting pricing trends, in our view.
$URI