Bank-sourced data provides a broad cross section of forward looking default risk estimates.  This dataset now also includes sufficient history to address a key question – how realistic are these estimates?  Rating agencies, such as S&P, publish historically observed default rates.  The publically available Annual Global Corporate Default Study and

Credit Benchmark has published the latest monthly credit consensus data (from December 2017), with 20 contributor banks now providing bank-sourced credit views (CBCs*) on more than 14,000 separate legal entities over the past 12 months. Monthly consensus upgrades and downgrades: 449 obligors improved their credit standing by at least one

The current U.S. economic stance favours a weaker dollar but rising U.S. interest rates – a policy mix that would typically be bad for Emerging Market debt. But the Financial Times reports that the latest EPFR data (https://www.ft.com/content/b242b974-02aa-11e8-9650-9c0ad2d7c5b5) shows a continued appetite for Emerging market and Peripheral Eurozone debt.  The

The latest BIS reforms were announced in December 2017, and are mostly expected to be in place by 2022. These will: Remove the option to use the Advanced IRB (A-IRB) approach for certain asset classes Adopt input floors for probability of default (PD) and loss given default (LGD) Provide greater

Credit Benchmark has published the latest monthly credit consensus data (from October 2017), with 18 contributor banks now providing bank-sourced credit views (CBCs*) on more than 13,000 separate legal entities over the past 12 months. Monthly consensus upgrades and downgrades: 282 obligors saw improved consensus in their credit standing by

Credit Benchmark has published the latest monthly credit consensus data (from June 2017), with 15 contributor banks now providing bank-sourced