Claim OwnershipGordon Kerr's Credit Compass: Navigating European Credit Markets
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KBRA’s Credit Compass brings you expert insights into the complex and ever-evolving European credit landscape. This podcast is hosted by KBRA’s European Macro Strategist Gordon Kerr, an industry veteran with over two decades of experience in research and trading at leading financial institutions. Gordon’s podcast delivers sharp analysis and fresh perspectives on the forces shaping bond markets, leverage, and debt across the UK and continental Europe. Whether you are a market professional, an investor, or just curious about the intricacies of the credit markets, Credit Compass will keep you informed and ahead of the curve.
52 Episodes
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In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, examines bank lending views via several recent surveys. Gordon also investigates recent large European bank results and whether their views differ.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, examines France’s budget outcome, shifting growth dynamics across the euro area, record-setting issuance, and what tight valuations mean for credit investors. The message is constructive—but with limited room for error as markets price in good news.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, reviews the World Economic Forum (WEF) Davos 2026 conference. Gordon also explores the recent trade deal with India and some recent data that hints at positive economic signs for Europe seeping through the cracks.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, examines a number of new developments in Europe. Gordon explores recent trade tensions and geopolitical risks that remain in the fore, but notes that low defaults, easing rate expectations, and improving sentiment continue to support a positive European story.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, examines early signals from UK and European consumer data. Gordon also explores Europe’s progress on the long-awaited Mercosur trade agreement and its strategic importance, as well as how European Union defence spending is beginning to translate into real economic activity.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, reviews Europe’s start to the year. As the region faces a year of development, a stable start to the data presents a positive backdrop, which Gordon outlines in his recent article in the Business Post (link: https://www.businesspost.ie/analysis-opinion/gordon-kerr-why-ai-defence-and-trade-hold-the-key-to-europes-growth-in-2026/).
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, reviews Europe’s standout year in credit markets—from record issuance to tight spreads—and explores the forces behind the strength. Gordon then outlines a ChatGPT synthesis of 60 industry outlooks to reveal the emerging consensus for 2026 and potential tail risks.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, discusses two structural shifts facing Europe as 2026 approaches: Bulgaria’s entry into the euro area and the early stages of the Dutch pension transition. One adds institutional depth; the other may reshape flows, duration demand, and asset-allocation trends across the continent.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, examines rising fiscal and financial stability concerns across the UK and Europe, from the UK’s “buy now, pay later” budget to France’s tightening fiscal path. Gordon also discusses Bank of England and ECB [European Central Bank] research about the shifting risks in the private credit and insurance sectors.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, explores Europe’s latest insolvency reform, Italy’s “golden power” dispute, and expectations for the UK’s upcoming budget. Together, they illustrate how regulation, politics, and fiscal credibility continue to shape Europe’s evolving credit landscape—offering both progress and persistent friction.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, explores the powerful intersection of AI and energy—how data-centre expansion is reshaping electricity demand, the grid bottlenecks slowing Europe’s transition, and what that means for credit markets. He also discusses the UK economy, where policy uncertainty tests investor confidence ahead of the Budget.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, outlines the way AI is changing the economics of labour, productivity, and credit—fast. Gordon examines how that’s feeding into hiring freezes, pay restraint, and a surge in European private credit flows, and how that is impacting credit markets.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, discusses the recent growth data, the surprising country standouts, and what is behind the momentum. Gordon also explores how investment themes could help to support the nascent growth in the region.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, unpacks the signals behind the continent’s fragile recovery: what central banks are really saying, how European lenders are managing risk, and why cautious optimism may finally be warranted. Gordon explores what these crosscurrents mean for growth, credit, and investor sentiment across Europe and the UK.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, dives into the interplay between energy markets and European corporate credit. We explore how unusually low oil costs and a contango futures curve are signalling more than just margin relief. Gordon then unpacks recent earnings surprises in Europe, with a focus on forward guidance and changing expectations.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, explores some insight from the society of professional economists annual event. He further comments on developments from the Eurogroup ECOFIN meetings and covers some perspective on recent market volatility.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, explores the views of chief economists across the globe. In particular, their views on the direction and potential for Europe. Gordon also reviews the developing situation in France and its impact on markets.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, reviews recent business surveys from McKinsey and Lloyds. Their views provide some insight into the prospect for growth and employment in the months ahead. Further, Gordon adds some colour to the UK’s prospects out of the recent Labour Party conference.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, reviews recent developments of the US-UK relationship following as a state visit from the US that brought new investment commitments. Further, Gordon highlights the region’s uneven path to recovery and the risks the China-US trade war is presenting to Europe. Learn more about your ad choices. Visit megaphone.fm/adchoices
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, investigates the potential impact of the plans outlined in the State of the European Union address by Ursula von der Leyen. The UK continues to struggle along, but a US visit could offer some reprieve as growth outlooks for European economies are revised upwards. Learn more about your ad choices. Visit megaphone.fm/adchoices
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