Over the summer, rising rates threatened to drain liquidity and easy money from the financial markets. Now, as the year ends, economists are fixated on the horrible US housing market and debating whether the economic landing will be hard or soft.
It’s all bad news for credit… and yet.
And yet, credit spreads have ground in all year. Why? Because most investment-grade corporates are in very rude financial health. Profits are strong, spending on capex or M&A has not risen at an alarming rate, cash and liquidity is high.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
