## 财报札记 Earnings notes --- ### 2026Q3 <small>能源/金矿板块季报应该都不错。Q3 WTI ~$85/bbl, gold $4300/oz， 都高于生产成本价$60/bbl, $2000/oz. 关注转势板块：TiO2，Sunbelt apartment, Fertilizer</small> - GPD now 3.6%, norminal 6.8-7.1%