Gordon Kerr's Credit Compass: Navigating European Credit Markets

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, highlights the outlook for defaults in Europe, according to a Deutsche Bank study. Gordon also covers recent data in the UK and what that may mean for rates. Further, Gordon recorded this episode in Spain while attending the Global ABS securitisation conference, where a positive tone is developing for the asset class...

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, highlights a fresh challenge to global investors in a small section of the US administration’s “Big, Beautiful Bill” that could have far-reaching implications outside the US. Gordon also outlines some potential upcoming changes to securitisation regulations and explores the conclusions from a World Economic Forum sur...

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist can’t escape trade discussion. Gordon explores the early negotiations between Europe and the US. He also outlines the shifting sentiment in Europe, UK growth expectations, and regulatory changes. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, explores yet another trade deal, this time between the UK and the European Union. Gordon delves into central bank debates as policies approach neutral and the hawks and doves split. This leads to a discussion of market valuation and taking stock of where we go from here. Learn more about your ad choices. Visit megaph...

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, explores the UK’s new trade deals with India and the US. Gordon further delves into the prospects for European trade negotiations as the US turns its attention to the bloc. He also examines the Bank of England’s rate cut, the reaction in credit markets, and the growing pressure on Ireland’s pharma sector amid US pric...

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, explores how early signals from April’s Purchasing Managers' Index (PMI) and GDP data reflect the market's reaction to newly announced US trade tariffs. Gordon unpacks regional dynamics across the eurozone and UK, assesses the resilience of European manufacturing, and takes a closer look at what’s driving growth bene...

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, hosts Van Hesser, our Chief Strategist, to discuss their new research series, The Forward Look. Gordon and Van—pulling on themes from the recently published inaugural report—highlight the outlook for the US economy as well as Van’s views on the US consumer and the direction of credit markets. Further, Gordon covers h...

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, dissects recent earnings results to reveal the relative appeal of Europe to investors. As Gordon discusses, risks remain for companies exposed to the US, but so far most European corporates have attractive qualities to global investors. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, discusses the pause in US global tariffs and how this presents investors with an opportunity to reassess the potential impacts and prospects for negotiated terms. Gordon also highlights where to look for insights in the weeks ahead. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, discusses the global market reaction to the announcement of US tariffs, with an emphasis on Europe’s response. Gordon also interviews two of his colleagues from KBRA DLD (a division of KBRA Analytics) about their launch of a European default index in private credit. Learn more about your ad choices. Visit megaphone.f...

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, discusses the UK Spring Statement as well as boardroom reactions to potential tariff plans. Soon to be announced tariffs will impact European corporates, but many executives have already announced plans ahead of the 2 April announcements. Gordon highlights a few of these in today’s episode. Learn more about your ad c...

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, discusses the European consumer. The relative health of the consumer in Europe varies by country, but remains in a relatively healthy position overall. Gordon explores the challenges currently facing consumers and how their position compares to prior periods. Learn more about your ad choices. Visit megaphone.fm/adcho...

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, discusses recent economic survey results from Bloomberg News and the Organisation for Economic Co-operation and Development (OECD). Growth expectations have barely shifted despite the announcements for massive stimulus. This episode primarily focuses on the challenges and opportunities for Germany, France, Italy, Spa...

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, discusses the European yield shift, bonds and their relative appeal, as well as a changing picture for European growth. The episode covers the recent movement in the German bund market and evaluates the latest data on European growth prospects. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, discusses pending increases of European defence spending. This episode also assesses potential US tariffs on European goods, as well as recent major debt restructurings. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, holds a lively and timely discussion about energy with KBRA analysts Karim Nassif, from the Project Finance and Corporate Ratings team, and Ken Egan, from the Sovereigns team. Prices have been rising this year as Europe faces a cold winter and constrained supply markets. Learn more about your ad choices. Visit megaph...

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, highlights the recent defence spending discussions in Europe and the internal turmoil it faces over spending and competitiveness. Gordon also highlights some positive elements to Europe’s outlook and even regulations. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, highlights the changing outlook for the UK and an important pending election. Further, Gordon highlights some of the recent rays of light in the eurozone with positive(ish) Purchasing Managers’ Indexes (PMI). Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, highlights the prospects for European tariffs from the US. Gordon also covers preliminary fourth-quarter European GDP results, highlights some of the European Commission's recent “Competitiveness Compass” report, and examines the cost of regulation within the European Union. Learn more about your ad choices. Visit me...

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, discusses some interesting survey results from the International Association of Credit Portfolio Managers and the European Central Bank, including their indications for the first quarter in the UK and Europe. These findings are supported by a few recently released corporate stress indicators, which the episode also c...

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, explores an economic landscape defined by a delicate balance: inflation remains under control, yet risks persist; potential deregulation in Europe could unlock growth but sparks debate; AI continues to transform labor markets; and tariffs, with all their complexities, once again reenter the conversation. Learn more a...

Credit Compass—a new podcast from KBRA’s European Macro Strategist, Gordon Kerr—will guide listeners through the complexities of European credit and capital markets from a macro perspective. Whether you’re a market professional, an investor, or just curious about credit market dynamics, Credit Compass will keep you informed and ahead of the curve. In this inaugural podcast episode, Gordon is joine...