Todays Downgrades

• Steel Dynamics (STLD) downgraded by Exane BNP Paribas from Outperform to Neutral
• U.S. Steel (X) downgraded by Exane BNP Paribas from Outperform to Neutral
• EFG Hermes (EFGZF) downgraded by HSBC from Buy to Hold
• Kerry Logistics (KRRYF) downgraded by HSBC from Buy to Hold
• Adyen (ADYEY) downgraded by UBS from Buy to…

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Todays Upgrades

• Neste (NTOIY) upgraded by Jefferies from Hold to Buy
• Netflix (NFLX) upgraded by Goldman Sachs from Sell to Neutral
• BioMarin (BMRN) upgraded by BMO Capital from Market Perform to Outperform
• Nucor (NUE) upgraded by Exane BNP Paribas from Neutral to Outperform
• Continental AG (CTTAY) upgraded by Exane BNP Paribas from Neutral…

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Implied Fed funds futures continue to reflect a 25 bp hike at the July 25-26 FOMC meeting with about an 85% risk currently, having edged higher in recent weeks. The resilient economy, still robust job market, elevated services inflation, and hawkish comments from Chair Powell (as well as ECB’s Lagarde and BoE’s Bailey) at the Sintra central… Read more

The Fedspeak calendar heats up next week and could prove insightful for the policy path as analysts’ll hear comments post jobs and CPI reports. FOMC voters NY’s Williams speaks later today at the Central Bank Research Association meeting, and Dallas Fed’s Logan speaks on Policy Challenges for Central Banks tomorrow. While both are likely… Read more

Todays 

Downgrades

• Symrise (SYIEY) from Buy downgraded by Goldman Sachs from Buy to Neutral
• Zalando (ZLNDY) from Buy downgraded by HSBC from Buy to Hold
• Elisa (ELMUF) from Buy downgraded by BofA from Neutral to Underperform
• Croda (COIHY) from Buy downgraded by Stifel from Buy to Hold
• Evonik (EVKIF) from Buy downgraded by Stifel from Buy to…

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