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

Stabilizing Growth
8 November 2017
Global growth will be broad-based in 2018
We expect stable global macroeconomic conditions in the year ahead, allowing for broad-based economic expansion. We forecast 2018 growth of 2% for G20 advanced economies and 5.2% for emerging markets.
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political Risk
1 November 2017
Catalan independence move, self-rule suspension negative for Spain, Catalunya
The further escalation of the constitutional crisis will damage economic growth, business sentiment and consumer spending in Catalunya and in Spain as a whole.
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unusual monetary conditions
6
November 2017
China’s shadow banking growth comes to a halt
Amid a regulatory clampdown, total shadow banking assets barely grew during the first six months of 2017 and declined as a percentage of GDP for the first time since 2012.
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Climate change
25 October 2017
Moody’s captures material ESG considerations in its credit analysis
We recognize that environmental, social and governance considerations are becoming increasing important considerations for investors. Read how we integrate these issues into our ratings.
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political risk
24 October 2017
Popular support for single currency suggests euro exit risk remains low
Economic and financial damage from an exit would be largest for smaller countries highly interconnected with the bloc.
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Political Risk

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CROSS-SECTOR
UK growth picks up modestly in third quarter
17 October 2017
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SOVEREIGN AND SUPRANATIONAL
Netherlands’ new ruling coalition agreement is credit positive
16 October 2017
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Stabilizing Growth

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CROSS-SECTOR
Frontier markets vary in exposure to commodity prices, higher rates
10 october 2017
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MACROECONOMIC OUTLOOK
Above-potential growth in advanced economies propels global expansion
30 AUGUST 2017
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Unusual Monetary Conditions

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CROSS-SECTOR
US banks’ net interest margins are still rising, a credit positive
30 OCTOBER 2017
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CROSS-SECTOR
ECB’s cut in asset purchases unlikely to hurt financing conditions
27 OCTOBER 2017
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Climate Change

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infrastructure and project finance
Japan's energy sector faces challenges in meeting CO2 reduction targets
23 october 2017
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INFRASTRUCTURE AND PROJECT FINANCE
Falling renewable costs will ease path to compliance with Paris climate agreement
6 SEPTEMBER 2017
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Technology

Corporates
EMEA: Testing & inspection firms must adapt to
disruptive technologies
25 October 2017
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CROSS-SECTOR
New payment technologies pose threat, but unlikely to oust incumbents
11 october 2017
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Slow Trade Recovery

CROSS-SECTOR
China's Belt and Road initiative is credit positive, but presents challenges
21 october 2017
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SOVEREIGN AND SUPRANATIONAL
NAFTA Talks Alone Will Not Fix Structural Impediments to Mexico’s Growth
9 AUGUST 2017
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