US, UK Retailers Optimism Tempered by Supply Chain Risk: October 2021
The retail sector is enjoying some long-awaited good fortune. According to the latest consensus data, credit risk has improved for both the US and UK retail sectors.
October Credit Consensus Indicators (CCIs) – UK, EU and US Industrials
Credit Benchmark have released the October 2021 Credit Consensus Indicators (CCIs). The economies of the UK, EU, and US, may have improved from the low points of the last few years, but they aren’t out of the woods just yet. Neither are their respective industrial firms.
October 2021 Financial Counterpart Monitor
The Financial Counterpart Monitor from Credit Benchmark provides a unique analysis of the changing creditworthiness of financial institutions.
October 2021 Industry Monitor
Credit Benchmark have released the latest end-month industry update, based on the final and complete set of the contributed credit risk estimates from 40+ global financial institutions.
Supply Chain Crisis: Food Producers Credit Trends
Global food prices are at a 10-year high, pushed up by the pandemic. With climate change a growing issue, prices are likely to stay raised. Consensus credit data shows food producers have weathered COVID well, with many rated higher than the major credit rating agencies and continuing to improve.
Rising Interest Rates and Credit Upgrades
With a potential UK interest rate hike on the cards, a growing number of central banks are seeing inflation as a key near-term risk to economic stability. With net credit upgrades currently in balance, and a growing number of countries imposing monetary tightening, there is a risk that the global net credit balance turns sharply negative.
Fallen Angels and Rising Stars: October 2021
Consensus data show ongoing shuffling within corporate credit, but the balance is slightly in favour of Rising Stars as a growing number of firms see their credit status shift from high-yield to investment-grade.
Restaurants & Bars: US Recovery Pulls Ahead of UK
The hospitality industry has suffered from prolonged closures, reduced capacity, supply issues and staff shortages during COVID, damaging an already low margin business. For the UK, Brexit has magnified these effects. Analysis of consensus credit data shows a disparity in recovery between the US and UK.
Credit Quality Continues Upwards Momentum in US, UK Auto Sectors: September 2021
The positive credit movement witnessed in other industries like retail and energy can also be seen in the US auto sector. Credit quality continues to improve and risk continues to decline. In addition to the overall economic picture improving, demand remains robust. The same is largely true for the UK sector.
Sovereign Credit Risk and the Cost of COVID
A potential US Government shutdown is focusing attention on Sovereign credit risk, with a risk to US Treasury bond payments. A missed payment would be a major market event, but the broader issue is how Governments around the world handle the cost of COVID. The latest consensus data examines credit risk trends for Global Sovereign Governments, plus compares consensus vs CRA ratings for 12 major economies.
