The Big Picture
2017 Global Credit Themes
For global credit markets in 2017, stabilizing macroeconomic conditions, heightened political risks, trade protectionism, and the evolution of climate change and technological trends are the key themes shaping the growth of credit.

Explore Our Credit Themes

Political Risk
Stabilizing Growth
Unusual Monetary Conditions
Climate Change
Technology
Slow Trade Recovery

Research Highlights

political Risk
6 october 2017
Catalan independence would have broadly negative credit impact
Although unlikely to occur, Catalan independence would be credit negative for Spain and for Catalunya.
stabilizing growth
10 october 2017
Frontier markets vary in exposure to commodity prices, higher rates
Credit quality of energy and minerals exporting nations has been hurt the most by lower commodity prices, while those with large external vulnerabilities, little fiscal policy space, high borrowing needs and low institutional strength are most at risk from higher interest rates.
technology
18 september 2017
Blockchain prototype is credit positive for P&C insurers and reinsurers
An insurance industry consortium’s blockchain application will significantly reduce policy management expenses and speed up claims settlement.
Cross-Sector
Political risk poses major challenges to credit prospects in Latin America
29 august 2017
CROSS-SECTOR
German elections to have muted credit impact on rated issuers
29 AUGUST 2017

Stabilizing Growth

Macroeconomic Outlook
Above-potential growth in advanced economies propels global expansion
30 august 2017
Subscribers only
CROSS-SECTOR
China, Commodities Prices and Corporate Debt Top Emerging Market Risks
1 JUNE 2017

Unusual Monetary Conditions

CROSS-SECTOR
Central banks will unwind monetary accommodation without disrupting markets
14 September 2017
CROSS-SECTOR
FAQ on ECB's corporate bond purchases
19 SEPTEMBER 2017
infrastructure and project finance
Falling renewable costs will ease path to compliance with Paris climate agreement
6 september 2017
Subscribers only
INFRASTRUCTURE AND PROJECT FINANCE
FSB climate task force’s recommendations will lead to mainstreaming of climate-related financial disclosures
29 JUNE 2017

Technology

CROSS-SECTOR
US Retail Defaults Climb to Highest Levels since the Great Recession
21 June 2017
CROSS-SECTOR
China's Surging E-Payments Lift Consumption, Pose Limited Threat to Banks
20 june 2017

Slow Trade Recovery

sovereign and supranational
NAFTA Talks Alone Will Not Fix Structural Impediments to Mexico’s Growth
9 AUGUST 2017
SOVEREIGN AND SUPRANATIONAL
Japan’s trade deal with EU will support economic growth and productivity
18 JULY 2017
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