Moody’s Talks – The Big Picture Sarah Carlson, William Foster, Colin Ellis
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- Business
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On Moody’s Talks – The Big Picture, hosts Sarah Carlson, William Foster and Colin Ellis bring you insights from Moody’s analysts around the world on hot topics across fixed-income markets. Each episode will illuminate Moody’s thinking on the latest credit and economic developments, ranging from the continued impact of the COVID-19 pandemic, to technological disruption, political shifts and climate change. Please join us as we explore what’s on the horizon for the global credit landscape.
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Mixed picture for sovereigns at World Bank and IMF spring meetings
The tone has shifted since the meetings last year to cautious optimism about a soft landing for the global economy. But stubborn inflation, budget constraints and geopolitics present growing concerns, particularly in light of recent events in the Middle East. In this episode, we sit down with Marie Diron and Sarah Carlson from the sovereign team to discuss what this means for the future direction of sovereign ratings.
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Green technology and industry
It’s a long way to global net zero emissions but some industrial efforts are getting traction. Proof-of-concept has been established in steelmaking, where hydrogen can help replace coal, and in aviation, where some planes are taking to the skies on biofuel. In this episode, we discuss the early stages of this transformation and what it will take to keep it going.
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Semiconductors and geopolitics
Computers are not just on your desk. They're in your phones, your cars, your microwave. Even washing machines are now computers. And the demand for the computer chips that these products use is an increasing focus not just for investors but also for governments globally. In this episode, we discuss how this intervention is impacting the big players and where the market is headed with our lead analyst for Nvidia and Intel, Raj Joshi.
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Corporate default rate will ease in 2024 while remaining near its long-term average
The rate will likely decline to 3.6% by the end of 2024, from a 5% peak in January, as central banks begin lowering policy rates.
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Narrowing gender gaps in labour markets and on boards will strengthen credit quality
Female labour participation rates have more than recovered losses sustained during the pandemic. The associated boost in economic activity and support to households is positive for a range of issuers.
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Refinancing needs and valuation gaps increase risks for some European leveraged finance companies
Around €300 billion of European spec-grade corporate debt needs refinancing by 2026, but uncertain market access, slower growth and higher interest rates increase risks for some lower rated entities.