Investment themes

EVs represent a key entry point into the electrification theme and appear to be approaching a structural tipping point, driven by falling battery costs, improving technology, and rising oil prices that enhance the total cost advantage of electric vehicles. Our PERSPECTIVES Special – China’s EV sector in a higher oil price world looks further into this theme.

In a dramatic turn of events, just hours before US President Donald Trump’s deadline expired, both the US and Iran agreed to a two-week ceasefire, aiming to negotiate a sustainable peace agreement. Israel has also joined the ceasefire, though it specified that the arrangement does not extend to Lebanon. Read more.

In this PERSPECTIVES Special we examine how exposed European economies are, how this conflict differs from the 2022 energy crisis, and what this means for markets and policy. We present our latest scenarios and address the implications for investors as Europe navigates increasingly challenging crosswinds.

In this PERSPECTIVES Special, we explore how the Hormuz-specific conflict with Iran has become a defining macro shock, disrupting global energy flows, lifting inflation risks, and reshaping cross asset and regional market dynamics, with the US relatively insulated but still exposed to higher prices and tighter financial conditions.

This PERSPECTIVES Special examines how Beijing is prioritising risk control, technological upgrading and productivity gains, while keeping demand support targeted and measured. We assess the implications for growth, inflation and policy transmission, and outline where investors should expect greater dispersion across asset classes and sectors – highlighting the opportunities most closely aligned with China’s evolving strategic priorities.

We assess how a Hormuz-related energy shock transmits through APAC macro fundamentals, sector earnings and equity market positioning, and why it may act as a structural catalyst for Asia’s long term energy security transition rather than just a short-term market event.

We assess the key features of the EU-Mercosur agreement, its implications for investment and trade flows, and the equity market sectors most likely to benefit on both sides.

The conflict has escalated with direct US-Israel strikes on Iran and regional retaliation. Risks to energy supply have increased significantly, as energy transportation through the Strait of Hormuz has been disrupted. Read more.