Summary of Financial Institutions' Views: Gold, Bond Market, and Monetary Policy Dynamics

1. Saxo Capital: Spot gold surpasses $4,000, asset reallocation drives the rally. 2. Pepperstone: Gold has become a 'conviction trade.' 3. ING: Gold still has room for further upside. 4. OCBC Bank: Expects the Monetary Authority of Singapore to maintain its current policy. 5. Capital Economics: Global long-term bond yields remain stable, curve steepening may persist. 6. Sumitomo Mitsui: USD/JPY exchange rate approaching 160 may trigger intervention. 7. JPMorgan: Stablecoin adoption could boost dollar buying. 8. JPMorgan: AI-related bonds reach $1.2 trillion, becoming the largest segment in the investment-grade market. 9. JPMorgan: Reserve Bank of New Zealand may cut rates in November and February next year. 10. BNP Paribas: Risk aversion intensifies, funds flow into gold, while U.S. Treasuries lose appeal.