August Credit Update: Consensus Upgrades and Downgrades Balanced
Credit Benchmark has published the latest monthly credit consensus data (from July 2018), with 25 contributor banks. The set of bank-sourced credit views (CBCs*) now covers more than 21,000 separate legal entities. The monthly upgrades and downgrades overview is now based on data adjusted for changes in contributor mix. Monthly consensus upgrades and downgrades: 283 […]
Supply Chain Credit Risk
Global supply chains have become increasingly complex, and supply chain risk management (“SCRM”) is a major issue for most large corporates. Globalization of trade flows means that SCRM increasingly features in trans-national trade discussions. For example, a key issue in the current Brexit negotiations is the complexity of the supply chain across the UK and […]
Risk.Net: September Credit Data Review
“An eye for an eye will make the whole world blind,” Gandhi is said to have observed. Sadly, behavioural economists would probably agree he was not far wrong: recent tit-for-tat episodes of tariff imposition by the US, the EU and China demonstrate just how hardwired retaliatory behaviour is. But how do banks accurately gauge and price the risk […]
US Equities Extend Bull Run, But Credit Improvements Lag Behind Europe
US equities have now had 3,453 days without a correction of 20% or more – the longest bull run in US financial history. And since mid-2016 alone, the Dow index is up more than 40%. European equity returns have been more modest but still respectable: France, Germany and the UK are all up about 25% […]
Credit Benchmark Grows Bank Contributors, Eyes Non-Bank Credit Data
Inside Market Data (via Waters Technology) reports on Credit Benchmark’s plans to expand its dataset beyond banks, by beginning to collect and create consensus rating datasets from companies that create proprietary counterparty credit assessments. By Max Bowie, August 17, 2018, Waters Technology To read the original article, please click the link below. View original article (external […]
Sovereign Credit Risk: Developing Country Bonds Diverge
The decline of the Turkish Lira has raised a number of financial contagion worries. Initially these focused on European banks, but closer analysis suggests that the direct effect on Europe is manageable (MarketWatch). There are more fundamental concerns about some of the Developing markets, with South Africa in particular seeing a sharp currency drop. Investors […]
Risk.Net: August Credit Data Review
“US President Donald Trump says the package of tax cuts he signed into law last year unleashed an “economic miracle”, and with growth leaping to 4.1% in the second quarter, he has at least this one number on his side. The question is whether it can be sustained.” “US states will be hoping it can. For the states, […]
July Credit Update: Consensus Upgrades Outnumber Downgrades
Credit Benchmark has published the latest monthly credit consensus data (from June 2018), with 24 contributor banks. The set of bank-sourced credit views (CBCs*) now covers almost 21,000 separate legal entities. Monthly consensus upgrades and downgrades: 407 obligors improved their credit standing by at least one notch. 244 obligors deteriorated. 70 moved more than one […]
Main Street vs. Silicon Valley: Diverging Credit Trends?
The latest GDP numbers from the US show a blistering real growth rate of more than 4%, implying that the Trump tax cuts are having the desired effect across the US economy. But as the equity results season gets into full swing, some of the technology giants have been suffering huge share price drops: Facebook […]
Credit Anomalies in Sovereign Bond Yields
For the past decade, Sovereign bond yields have been held down by Central Bank funding facilities. But with interest rates now rising as various forms of QE are phased out, a new set of potential anomalies has appeared. The chart plots real yields for 10-year Government Bonds against the Ratio of Government Debt to GDP, […]
