In Credit Weekly Snapshot – October 2024
Our fixed income team provide their weekly snapshot of market events.
Economic nationalism will present a constant challenge for investors
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.
Media in search of its Jerry Maguire moment… ‘Show me the money!‘
Streaming services are still adding subscribers, albeit at a slowing rate, but now the focus is turning towards their ability to stem earnings losses.
European high yield: default rate coming down
The fundamental backdrop is relatively stable, with the deteriorating outlook in automotives set against a well-capitalised issuer base – but bifurcation of credits continues.
In Credit Weekly Snapshot – 21 October 2024
No Autumn chills for Global Investment Grade Corporate fundamentals
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.
European utilities: prepared for the spending storm
Despite huge growth in demand, costs squeezes and supply constraints around raw materials and capacity are limiting expected returns in renewables development.
In Credit Weekly Snapshot – 14 October 2024
In Credit Weekly Snapshot – 7 October 2024
Slow-speed crash? Problems for the European auto sector pile up
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.