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 &…
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Fixed Income & Credit
Fixed income research across credit spreads, bonds, liquidity, default risk and financing markets.
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The market assumes Eurozone credit conditions are uniformly tightening, but the latest lending survey reveals a clear divergence between corporate and…
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The market treats Latin America as a single homogenous EM block, but June returns reveal a 19-percentage-point spread between Andean winners and Southern Cone…
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EM HY Outperforming US HY Thanks To Oil: EM Sovereign and US Credit Strategy | Europe
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Credit Volatility Field Notes: Smile Dynamics, Spread-Vol Regimes & Implied vs Realised Skew in CDS Index Options
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Global Data Watch: Asia: Oil Down, Dollar Up: A Rotation in Asian Central Banks
The market assumes synchronized easing across Asian central banks, but the crude price collapse is creating a structural policy divide between oil importers…
Global forecasts: Updated forecasts for global bond yields, WTI, Brent, global equity indices, select FX/EM currency pairs and key economic forecasts, including GDP, inflation, debt and interest rates.
The market assumes global bond yields and oil prices will move in tandem or remain range-bound, but Barclays forecasts reveal a structural divergence: US…
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The market mistakenly believes EM sovereign credit risk is compressing uniformly across all ratings and regions. But actual data shows BB-rated and Asia are…
Treasury roll estimates for 2y, 5y and 7y auctions
• Roll estimates: We estimate fair value for the 2y, 5y and 7y rolls at settlement of -0.2bp, -0.1bp and 0.1bp, respectively. This translates into rolls at…
Shareholders‘ Meeting Recap
methods ahead of the refinancing of a ¥100bn hybrid loan (with approximately ¥50bn equity credit from rating agencies) due in October 2027. These instruments…
Global EM Weekly Local Bond Auction Calendar: Fixed-rate bond supply for EM Asia, EMEA EM, Latin America and Frontier (22-June-26 to 28-June-26)
J P M O R G A N Global Markets Strategy We summarize EM local currency fixed-coupon government bond auctions for the Emerging Markets Strategy coming week…
APAC Credit Roundup: Asia Credit Outlook, CITIC Bank International, China food delivery industry, Continuum
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APAC Credit Roundup: EM Sovereign Strategy, China, US AI capex, QBE, West China Cement
JPMorgan closes its underweight positions in Sri Lanka and the Philippines, expecting EM Asia to lead a relief rally as the region most exposed to the energy…
Mercari (4385): Upgrade to Overweight: Trust and safety improvements and AI use diversifying GMV growth drivers
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