BofA raised 2030 global AI capex forecast to $1.7T (5x in 5 years). China AI capex to grow from $90B to $330B by 2030. Bottlenecks in glass fiber, copper foil, power equipment (transformers, gas turbines). Power demand to triple in 5 years. Oil: Brent forecast lowered to $70; demand destruction in China is ~3% structural (EVs, chemicals), 6-7% cyclical may return. Gold under pressure from strong USD and rate hike expectations.
implicit
implicit
RUT
explicit
explicit
explicit
Bank of America
8.5
Investment Bank $3040.00B
Matty Zhao 9.0
Investment Bank $3040.00B
Matty Zhao 9.0
6/25/2026 10:06:04 AM
dxy
Our house view is US to have 75bp rate hike over next 12 months and USD quite strong.
| 6/9/2026 10:15:04 AM | short term up | 5 days later | -0.32% | -0.32% |
| 4/17/2026 3:01:43 PM | medium term cautious down | 21 days later | -0.11% | +0.06% |
| 1/27/2026 1:16:36 AM | medium term cautious down | 20 days later | +0.74% | -0.37% |
| 10/6/2025 9:17:34 PM | medium term up | 20 days later | +0.20% | +0.20% |
| 9/17/2025 4:38:45 PM | long term cautious down | 60 days later | +2.30% | -1.15% |
| 9/3/2025 5:31:38 PM | short term sharp down | 5 days later | -0.57% | +0.85% |
metals
Gold is more about rate hikes and strong USD. In the near term, clients are concerned on gold. From a rate cut perspective, probably losing momentum to the upside.
| 2/11/2026 2:09:22 PM | medium term up | 20 days later | +4.05% | +4.05% |
| 1/7/2026 1:57:49 PM | medium term up | 20 days later | +18.94% | +18.94% |
| 12/9/2025 3:07:36 PM | long term up | 61 days later | +20.77% | +20.77% |
| 10/24/2025 9:17:59 PM | long term cautious up | 60 days later | +16.46% | +8.23% |
| 10/6/2025 9:17:34 PM | medium term cautious down | 20 days later | +0.63% | -0.32% |
| 9/12/2025 2:50:23 PM | short term sharp up | 7 days later | +1.47% | +2.20% |
| 9/4/2025 9:08:44 PM | medium term up | 20 days later | +4.14% | +4.14% |
| 9/3/2025 5:31:38 PM | short term up | 5 days later | +1.97% | +1.97% |
ndx
BofA's massive AI capex forecast ($1.7T by 2030) and identification of structural bottlenecks imply sustained demand for AI hardware, supporting the Nasdaq and chip ecosystem for years.
wti
We lower our Brent oil forecast to about $70 for the second half and next year. We expect a surplus next year. Demand is quite weak, down around 10% in China, with some permanent damage.
| 6/17/2026 2:04:47 PM | short term down | 5 days later | -4.43% | +4.43% |
| 5/18/2026 11:03:01 PM | short term up | 5 days later | -10.36% | -10.36% |
| 5/18/2026 7:04:25 PM | short term sharp up | 5 days later | -10.36% | -15.55% |
| 4/28/2026 8:52:26 AM | short term cautious up | 5 days later | -0.43% | -0.22% |
| 3/19/2026 6:22:02 PM | short term sharp up | 5 days later | -8.14% | -12.21% |
| 3/16/2026 5:06:11 PM | short term sharp up | 6 days later | -8.40% | -12.60% |
| 2/11/2026 2:09:22 PM | medium term cautious down | 20 days later | +18.81% | -9.40% |
| 12/9/2025 3:07:36 PM | medium term cautious down | 20 days later | -0.87% | +0.44% |
| 10/24/2025 9:17:59 PM | short term cautious up | 7 days later | -0.42% | -0.21% |
| 10/6/2025 2:28:34 PM | short term cautious down | 5 days later | -3.50% | +1.75% |
| 9/15/2025 10:19:56 PM | short term cautious up | 6 days later | -2.91% | -1.46% |
yields
Expectation of 75bp Fed hike over 12 months implies upward pressure on yields.
