Credit Bulletin: Deleveraging and Growth Story Intact Despite Leadership Churn
BP is a large, globally diversified, integrated energy company based in the UK. Historically, BP operated three main business segments: (i) Oil Production &…
Topics
Energy Transition
Research on renewables, storage, grids, clean technology, power infrastructure and transition supply chains.
141 reports
Latest related reports
Australia: Inflation still a narrow phenomenon
Australia?s second-quarter CPI was softer than revised expectations, with both core and headline inflation undershooting RBA forecasts. JPMorgan sees…
July FOMC: A question of patience
The market believes the Fed will cut rates soon, but the data shows payrolls near breakeven and core inflation flat, indicating the Fed's patience will delay…
EA macro and the energy shock, where do we stand?
The market broadly assumes the energy shock will drive the euro area into a deep recession, but actual data shows the economy is tracking a narrow median path…
Investor Presentation: Cyclical Resilience; Structural Strength
The market interprets the 6% decline in total Kharif sowing as broad-based agricultural weakness, but the data reveals a structural rotation toward cash crops…
Global Economics & Strategy: Deep Speak: An AI-driven read on tone shifts at the Fed, ECB and BoJ
The market mistakenly treats the Fed, ECB, and BoJ as synchronized in policy stance, but AI tone tracking reveals a clear divergence in their communication…
AROUND THE WORLD IN 80 CHARTS PODCAST The US inventory cycle and upcoming change in tariff regime, with our Chief US Political Economist
The market assumes a steady, extended US inventory restocking cycle through the second half of the year, but actual trade data reveals a compressed cycle…
The Weekly Worldview: Europe‘s Hard Fiscal Choices
The market treats European sovereign risk as a uniform asset class, but the data reveals a structural divergence in fiscal health across countries. Fiscal…
Global Data Watch: Asia: China’s 2H recovery contingent on fiscal
The market interprets China's 2Q GDP miss as broad-based weakness, but the data reveals a structural divergence between export-driven production and domestic…
China Economics: AI Supercycle Powers a Structural Export Upswing
The market treats China's export strength as a uniform cyclical recovery, but the data reveals a structural AI supercycle driving a sharp divergence. AI…
Transmission of AI Super Surplus in Korea - Mostly Through FX and Fiscal Policy
The market treats KRW weakness as a cyclical export tailwind, but overlooks the structural divergence between record terms-of-trade gains and currency…
Avenue Supermarts (AVEU.NS): Metro SSG Stalls as QC Pressure Intensifies; Maintain Sell
The market treats Avenue Supermarts as a stable growth retail winner, but the persistent deceleration in same-store sales growth and declining revenue per…
Man Group (EMG.L): Estimate changes ahead of 1H26
Market believes Man Group's performance fees will remain under pressure from macro uncertainty, but positive 1H26 performance has already driven an 8% upgrade…
PKO Bank Polski (PKO.WA): Structural alpha and medium-term upside in a transformed landscape; reiterate Buy
The market prices PKO Bank Polski as a cyclical bank, but data reveals its non-interest income generation is a structural counterweight to net interest margin…
Toll Brothers (TOL.N): The Right Side of a K-Shaped Housing Market; Upgrade to Buy
The market treats the housing sector as a single cyclical downturn, but the reality reveals a structural divergence between premium and entry-level segments…
J.B. Hunt Transportation Services (JBHT): A recovery is priced in, a return to structural growth is not (Upgrade to Outperform, $329)
The market prices J.B. Hunt as a cyclical freight recovery play, but a structural margin expansion is underway, driven by regulatory capacity removal and…
Atlas Copco A: Semiconductor capex and a potential short-cycle uptick overpower our structural concerns. Upgrade to Neutral.
The market treats Atlas Copco A as a uniform cyclical industrial, but data reveals a structural divergence between its semiconductor capex-driven vacuum…
Erste Group (ERST.VI): Augmenting structural growth; reinstate at Buy
The market treats Erste Group as a low-growth Austrian bank, but the Poland acquisition reveals a structural shift into higher-growth CEE markets. This…