Monthly Credit Outlook: May 2023
The March Monthly Credit Outlook looks at recent credit trends and highlights seen in the consensus dataset. This month, stubborn inflation risks steeper global credit deterioration.
May 3, 2023
The March Monthly Credit Outlook looks at recent credit trends and highlights seen in the consensus dataset. This month, stubborn inflation risks steeper global credit deterioration.
The latest whitepaper from Credit Benchmark illustrates global credit trends in the first quarter of 2023. The credit optimism of early 2023 has faded with the latest data suggesting a gradual but broad decline in global credit. US regional banks have shown extensive deterioration, though negative movement has paused for their larger counterparts. Global REITs, Mutual Funds, Hedge Funds, US Technology and Telecomms all showing net deterioration.
The sudden collapse of Silicon Valley Bank has raised questions as to what warning signs were missed. While this may have been a black swan event, bank credit warning signs have been flashing in consensus credit data for the past few months.
The March Monthly Credit Outlook looks at recent credit trends and highlights seen in the consensus dataset. This month, stubborn inflation risks steeper global credit deterioration.
The February Monthly Credit Outlook looks at recent credit trends and highlights seen in the consensus dataset. This month, credit risk is elevated but some positive surprises may be possible.
Modern Slavery, Child Labor and Human Trafficking Statement Credit Benchmark believes that human rights are an absolute and universal standard, and everyone has a basic
European Governments are pledging hundreds of billions of Euros in financial aid to power generators and distributors, plus support for consumers facing massive energy price hikes. But an even larger crisis may be lurking in European energy trading, with the FT reporting sector margin requirements as high as €1trillion – vastly in excess of current sector liquidity.
New EU capital rules may lead to a fivefold increase in buyside trading costs, potentially rendering this activity unprofitable. With the risk looming of a less vibrant European capital market, it is necessary for the industry, policy makers and regulators to work collectively on appropriate solutions to ensure European savers are not financially penalised.
This whitepaper from Credit Benchmark illustrates the global credit trends in the second quarter of 2022. Widening credit spreads show a major shift to a “risk-off” mindset, as supply shocks and rate hikes show no sign of abating. Corporate default rates are likely to spike, and across sectors correlations between default risk are changing. This whitepaper tracks these shifts across many otherwise unrated countries/sectors, as well as illustrating other global trends in Q2 2022.
The 2022 technology stock meltdown brought widespread financial damage. Markets are repricing the new reality of geopolitical tension, inflation and scarce money. But has the selloff brought opportunities?
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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