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A decade ago there was little sight of the seismic changes that have since occurred; similarly, events that might be impossible to imagine today will undoubtedly jolt financial markets in coming years.

Streaming services are still adding subscribers, albeit at a slowing rate, but now the focus is turning towards their ability to stem earnings losses.

The fundamental backdrop is relatively stable, with the deteriorating outlook in automotives set against a well-capitalised issuer base – but bifurcation of credits continues.

Our fixed income team provide their weekly snapshot of market events.

IG valuations remain tight, and the market remains focused on whether this is justified by fundamentals. Our bottom-up company analysis shows profitability remains strong and leverage modest.

Despite huge growth in demand, costs squeezes and supply constraints around raw materials and capacity are limiting expected returns in renewables development.

Understanding the options for power provision and assessing the investment opportunities resulting from AI’s thirst for energy.

A secure and consistent supply of critical minerals is fundamental to the energy transition and to achieving net-zero, but demand is putting pressure on supply chains and costs, and risks polarising sentiment around the energy transition.

Healthy cash balances built up over the past three years will be tested as firms attempt to weather the four-pronged oncoming storm of labour relations, EV uptake, emissions regulations and China.