This is the first joint update on the Significant Risk Transfer (SRT) market from Credit Benchmark and Oxane Partners. In this update, we examine key market developments and emerging trends across the SRT landscape, and analyze how investors can continue to execute, monitor, and manage SRT investments effectively amidst evolving market dynamics.

Default risk for High Yield Corporates and Financials forecast to rise across all G7 + China economies in 2025 with exception of the US, according to Credit Benchmark’s Default Risk Outlook.

Credit Benchmark’s 2025 US Default Risk Outlook covers 12 US Industries. The report predicts US default risks to remain stable over the next 12 months as rate cuts cushion the impact of a slowing economy, but some industries face challenges.

Credit Benchmark’s new 2024/25 Default Risk Outlook for UK Industries predicts UK default risks to plateau in next 12 months; Basic Materials, Telecoms and Technology predicted to show >10% increase in default risk by Q2 2025.

Credit Benchmark’s new 2024/25 Default Risk Outlook for EU Industries predicts default risk will peak late-2024 for most EU industries, but Tech, Telecoms, Oil & Gas and Utilities could rise significantly

Credit Benchmark’s new 2024 Default Risk Outlook covers 13 US Industries. The report predicts default risks to peak by mid-2024 for most industries, followed by credit recovery in H2 barring escalation in geopolitical risks.

This whitepaper reviews the distribution, dynamics and trends of default risk for various countries, industries and sectors that are positively or negatively affected by climate change.

This whitepaper uses default risk estimates from global banks to highlight potential fault lines embedded in the new Basel “Endgame” proposals.

Default rates for US and UK Speculative Grade bonds are expected to rise each quarter to a peak in Q3 2024. This whitepaper expands on our recent US Default Rate Forecast, with the addition of UK Corporate default projections.