Policy Challenges
The continuation of fiscal support will be in focus as some governments will have more limited capacity to provide further relief, while monetary policy will remain highly accommodative. Geopolitical and trade tensions will remain in the spotlight.
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  • SECTOR COMMENT
    15 Jan 2021|Moody's Investors Service
    The proposed $1.9 trillion pandemic aid package includes funding for vaccine distribution, state and local governments, and additional relief for individuals. The magnitude of the effects on economic and credit conditions would depend on the size and scope of the package that Congress ultimately passes.

    SECTOR IN-DEPTH
    13 Jan 2021|Moody's Investors Service
    The size and scope of environmental measures in pandemic relief packages vary significantly across Asia-Pacific, with wealthier economies better able to absorb the costs. Green stimulus will be credit positive for utilities, construction companies and battery manufacturers, while creating credit challenges for oil refiners and operators of captive coal power plants.

    SECTOR COMMENT
    07 Jan 2021|Moody's Investors Service
    President-elect Joe Biden’s policy proposals likely will gain more traction under a Democratic-controlled US Senate, although passage of meaningful legislation will still require bipartisan cooperation at a time when political polarization has widened. Biden’s policy agenda has credit implications for sectors including healthcare, financial institutions, infrastructure and energy.

    SECTOR IN-DEPTH
    06 Jan 2021|Moody's Investors Service
    A resurgence of virus infections and new closures and restrictions remain a risk to global trade and manufacturing activity. Trade negotiations will be a key policy focus globally, while digitization and supply-chain considerations will continue to drive shifts in business strategies.

    SECTOR IN-DEPTH
    17 Nov 2020|Moody's Investors Service
    The continued move toward a tripolar economy with the US, China and the EU as its pillars will have credit ramifications for a broad range of industries and countries.

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    PODCAST
    Moody's Investors Service
    Atsi Sheth from the Credit Strategy team and Yves Lemay from the Sovereign Risk Group discuss the outlook for the global economy and sovereign credit in 2021 in light of the seismic financial shock caused by the coronavirus pandemic. They also outline the differing outlooks and credit risks faced by three key economies: the US, China and the UK.

    OUTLOOK
    12 Nov 2020|Moody's Investors Service
    A tentative economic recovery is underway but the path is beset by uncertainty. Effective pandemic management, the development and distribution of a coronavirus vaccine, and the continuation of government policy support to households and businesses will determine the economic trajectory over the coming year.

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    OUTLOOK
    09 Nov 2020|Moody's Investors Service
    Global credit conditions will improve overall in 2021, aided by unprecedented COVID-19-related fiscal and monetary policy support. However, the initial rapid economic rebound is giving way to a patchier, more tenuous recovery as the pandemic proves hard to contain. Six key themes will shape the credit environment in the year ahead: Uneven recovery, policy challenges, rising debt burdens, digital transformation, environmental impact and social trends.
    PODCAST
    09 Nov 2020|Moody's Investors Service
    Anne Van Praagh and Michael Taylor of the Credit Strategy & Research team discuss six key trends that will affect the credit landscape as the world deals with the coronavirus crisis. These include an uneven and inconsistent economic recovery, sharply higher corporate and sovereign debt loads and numerous policy challenges for governments as they grapple with the economic and social consequences of the pandemic.

    SECTOR COMMENT
    08 Nov 2020|Moody's Investors Service
    The policy priorities of Democrat Joe Biden, who has been widely declared the winner of the US presidential election, will have credit implications for numerous US and global sectors. Key challenges for the new administration will include the still-weak economy, the coronavirus and healthcare, China relations, record-high deficits and environmental issues.