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In Case You Missed It: Weekly Equity Market Commentary & Conviction Calls
研报英文原文证据摘录
In Case You Missed It: Weekly Equity Market Commentary & Conviction Calls
Equity Research
Equity PMG
22 May 2026
In Case You Missed It
Weekly Equity Market
Commentary & Conviction Calls
US Equities are on pace for another week of mixed
U.S. Equity Product Management
performance. While 1Q earnings have been strong, rising Group
Treasury Yields and higher oil prices continue to put pressure Terence Malone* + 1 212 526 7578
on investor sentiment. Looking to next week, Friday's Core terence.malone@barclays.com
PCE readout will likely garner the most attention on the BCI, US
economic front. Andrew+1 212 526Ferremi*8257
andrew.ferremi@barclays.com
BCI, US
Research Conviction Calls
North America Metals & Mining: A Sky Full of Stars; Initiating on the Metals and Mining
Sector (05/21/2026). Rich Garchitorena initiated coverage of the North America Metals and
Mining sector, encompassing 14 stocks across base metals, precious metals, steel, uranium, and
rare earths, with a Positive view. Unlike prior commodity investment cycles, which were largely
driven by “old economy” infrastructure build, with the advent of AI, robotics, and the continued
progression towards an "electrified" economy, he sees “new economy” markets driving
incremental growth through the end of the decade, with supply unlikely to keep pace. He is
constructive on copper, as he expects demand to outpace supply through the end of the decade,
driven by growth across new end markets and ongoing capex for AI infrastructure demand. He
expects US steel prices to continue to climb in 2026, supported by ongoing US protectionist
policies and stable domestic demand. Rich is also positive on gold prices and gold equities, as
he expects each of the key drivers of prices to remain supportive through the year. On Rare
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