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
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, outlines the challenges facing the governments of France and the UK. France grapples with political turmoil and the UK delays its budget, yet bond markets remain resilient with issuance staying strong. Further, Gordon outlines the challenges facing Europe’s automakers from electric vehicle (EV) competition and fragile supply chains. Learn more about your ad choices. Visit megaphone.fm/adchoices
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, outlines the challenges facing Europe’s largest economies as they are tested by their budgetary plans. Further, Gordon provides some highlights of the bright signs of change starting to emerge in the eurozone. Learn more about your ad choices. Visit megaphone.fm/adchoices
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, outlines how the new EU-US tariff agreement is affecting European auto manufacturers, as revealed through their Q2 earnings and updated guidance. Further, Gordon provides some insight into the UK auto finance market, UK directors’ views, and European bank stability. Learn more about your ad choices. Visit megaphone.fm/adchoices
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, outlines the European Union’s new trade deal with the US. Gordon analyses the impact this deal may have and what is still missing, as well as highlights an example of the types of divergent data signals we are likely to see in the months ahead as economies adjust to the new norms. Further, Gordon highlights the latest regulatory proposal for the securitisation market. 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 growing fiscal pressures for the UK and France alongside Germany’s bold investment-led growth push. Gordon outlines what these divergent strategies mean for credit markets, with a closer look at shifting survey expectations on expected defaults. 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 impact of the heatwave on Europe. Gordon also discusses his look forward as outlined in his recent publication, The Forward Look—European and UK Credit Views: Q3 2025. 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 shifting global trade order, with the European Union balancing a fine line between the US and China. Gordon discusses the challenges in Germany, the benefits this could bring to Europe, and bond investor scrutiny of European governments. Learn more about your ad choices. Visit megaphone.fm/adchoices
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, outlines a number of tailwinds supporting European credit investment. The accelerating flow of capital into European private credit is set to continue. Gordon outlines these private credit developments as well as improvements in trade positions and regulatory changes. Further, Gordon highlights some of the outlooks for the second half from several investment firms. Learn more about your ad choices. Visit megaphone.fm/adchoices
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, outlines the improving sentiment in Europe among consumers and corporate management. Gordon also comments on the increased spending plans by NATO countries and their impact on European economies. In addition, he highlights the heightened uncertainty and the market’s apparent indifference to potential risks. 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 impact of escalating conflict and its effect on European energy prices. Gordon outlines what this means for inflation and growth as well as the impact of the UK’s spending review. Further, Gordon comments on banking consolidation in Europe as more cross-border deals are emerging. 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 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 Europe. Learn more about your ad choices. Visit megaphone.fm/adchoices
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 survey of economists. Learn more about your ad choices. Visit megaphone.fm/adchoices
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 megaphone.fm/adchoices
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 price reforms. Learn more about your ad choices. Visit megaphone.fm/adchoices
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 beneath the surface. Learn more about your ad choices. Visit megaphone.fm/adchoices
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 highlights from recent bank and financial service firm results. Learn more about your ad choices. Visit megaphone.fm/adchoices