Leveraged Loans continue to divide investor opinion. Values declined as part of the High Yield rout earlier this year, but they have been slower to recover. Consensus credit trends suggest that some of the bbb and bbb- CLO issuers may be in for a bumpy ride.
Global airlines face a battle for their survival, and equity indexes reflect recent volatility. However, any temporary rallying in airline stocks is at odds with the relentless decline seen in credit risk consensus data.
How far do equity market movements reflect credit developments during the COVID crisis?
After six months of market volatility, credit spreads have coincided with the much slower ascent of Consensus credit risk, suggesting the latter is a calmer indication of future credit market movement.
Consensus credit data suggests that in times of crisis, the “Solvency Boundary” between investment-grade and non-investment grade credits is more fluid than during non-crisis times. The implication for bond and equity investors is that in the current environment, not all BBB issues are the same.
The Covid19 crisis has exposed the risks in single, long and complex supply chains that are only as strong as their weakest link. Companies are moving
When equity markets turn down they will pivot towards companies with the highest credit quality. This analysis shows the relationship between equity market movements and credit risk for US corporates.
Download the full Luxury Goods Aggregate Analytics infographic below. The Luxury Goods sector has had phenomenal success over the past ten years. Growing global middle
Monthly Credit Trends for Top 100 Fund Managers, Global Airlines & Airports, Australian Corporates, and Irish Corporates & Financials.
The BBB cliff has been widely discussed and the growing number of recent “Fallen Angels” shows that a number of corporates are falling over the
Credit Benchmark brings together internal credit risk views from over 40 leading global financial institutions. The contributions are anonymized, aggregated, and published in the form of consensus ratings and aggregate analytics to provide an independent, real-world perspective of credit risk. Risk and investment professionals at banks, insurance companies, asset managers and other financial firms use the data for insights into the unrated, monitoring and alerting within their portfolios, benchmarking, assessing and analyzing trends, and fulfilling regulatory requirements and capital.
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