Credit Suisse Research
Le News-Feed propose un choix de publications actuelles du service Research du Credit Suisse, avec des recommandations de placement pertinentes concernant les régions, les sociétés, les marchés et les produits.

• US elections 2008: Profiting from politics
  A few US states are scheduled to have their primary elections in early January and, by 5 February 2008, the majority will have held the primaries. For the first time since 1928, no active president or vice president is running, which means increased media spending is necessary to build national popularity - already by mid 2007 the candidates have spent more on advertising than in the whole 1996 election cycle. Healthcare and the war in Iraq are very important topics for this election, creating investment opportunities depending on the outcome.
• Gain Exposure to Gulf Countries
  The Investment Committee rates global equities overweight but warns of potential sustained volatility in the short term. Gulf countries currently benefit from the oil wealth and the economic momentum stemming from major infrastructure programs. We recommend selected infrastructure stocks exposed to the Gulf Countries.
• Derivatives Strategy on Selected Banks
  With regard to US banks/brokers and European investment banks, we believe that their shares look increasingly attractive given the severe price drops. Still, we advise investors not to be overlyaggressive in this group, as headline risk, more so than fundamental concerns, is weighing more heavily at this juncture. We recommend attractive option strategies on selected banks.
• Buy Chinese Telcos Ahead of Industry Restructuring
  The unhealthy competitive landscape has led to a rising need to restructure China's telecom industry. We anticipate the restructuring, and subsequently 3G licensing, will take place in H1 2008, although political decisions could lead to delay. China's home-grown TD-SCDMA network is maturing and could dominate the future 3G market. Recent market consolidation represents good re-entry opportunities to start positioning in this long-term industry trend.
• Buy US Exporters Against European Dow Jones STOXX
  The Investment Committee rates global equities overweight but warns of potential sustained volatility in the short term. We therefore recommend a market neutral trade this week. The US dollar decline gives momentum to selected US corporations against their European counterparts. We therefore recommend some US stocks with strong export exposure relative to European stocks materialized in the Dow Jones STOXX Index.
• US Technology: Positive Long-Term Outlook
  Our overall outlook regarding US Technology remains decidedly positive, fueled by what we believe to be strong secular trends, high international exposure and attractive cash structures. Key secular themes driving technology include digital connectivity, digital media convergence, the global infrastructure buildout, and network bandwidth demand. Several attractive sub-themes underlie each one.
• Banking update - Credit Contagion to Continue
  Ongoing subprime/CDO crisis has magnified: lack of liquidity, bond insurers at risk, SIV downgrades pending, possible accounting changes for level 3 assets, and investigations. Breakdown of confidence in banks’ balance sheets drives sector performance, and could result in a short-term overreaction, leaving room for trading ideas going into 2008.
• Buy Selective Emerging Market Bonds
  The Investment Committee rates global equities overweight, but warns of potential sustained volatility in the short term. Government yields are unattractively low, but could edge even lower near term on continuing safe-haven demand. In credits, we remain cautious on financials.
• The Missing Link in Clean Technologies: Energy Storage
  Efficient batteries are the key bottleneck in the increasing need for appliance autonomy. In the coming years, milestone developments are likely to revolutionize battery performance, enabling many new applications. As a result, the global battery market is expected to grow well above global GDP through 2010. The greatest market share growth is likely to be in lithium-based batteries, the attendant drivers being portable consumer electronics and hybrid/electric cars.
• Buy European stocks against the Japanese market
  The Investment Committee rates global equities overweight but warns of potential sustained volatility in the short term. The Investment Committee rates Japan underweight while remaining overweight on Europe. Continental Europe offers much better valuation, consumer recovery, economic momentum and restructuring potential than Japan, which is plagued by a weak political leadership and high valuation. We recommend a basket of European stocks against the Japanese Topix Index.
• Singapore market update: Economy on a roll
  Singapore bank credit growth accelerates on housing and construction loans demand >>> Speculative property demand to cool in the near term on removal of deferred payment scheme, hence high-end property price inflation to slow >>> Sale of properties on progressive payment scheme to bring forward housing loans demand >>> Resurgent domestic demand to cushion any slowing of external economy
• Invest in Global Logistics and Transportation Stocks
  The Investment Committee rates global equities overweight but warns of potential volatility in the short term. Still high market expectations for further rate cuts could add another source of volatility. We therefore recommend specific investment themes benefiting from secular trends, such as logistics and transportation. This theme benefits from sustained economic growth and rising trade volume to and from emerging markets.
• Thailand: We expect more upside before general election
  We expect the market to rally to 960 in the lead-up to the general election. 30 percent PER discount to Asia ex-Japan region leaves room for a re-rating. Improvement in earnings revision trend, emerging signs of an economic recovery and year-end election are powerful drivers for the market. Buy economically sensitive big-cap stocks for a trade.
• Qatar: One of the fastest-growing economies
  Huge current account and fiscal surpluses have been built up on the back of high oil prices. Qatar intends to double the size of its economy in the next five years, which would make Qatar one of the fastest-growing nations in the world. The best way for investors to participate in Qatar's economic boom would be to gain exposure to Qatar's equity market. The Doha stock market has the biggest representation of companies from the oil && gas sector than any other country in the Gulf Cooperation Council (GCC).
• Core Satellite Approach to Fixed Income Recommendations
  
• Outlook for Latin American Stocks Remains Positive
  Latin American equity markets have boomed over the past five years due to commodity exports and improving domestic macroeconomic stability. We believe that a healthy global economy and robust commodity prices should continue to boost earnings of the exportdriven materials and cyclicals sectors. Domestic infrastructure spending, a strong housing market and strengthening consumption should increasingly support "domestic" earnings growth.