Global Trade in Focus in Latest Edition of Fitch Ratings' Inside Credit Newsletter
James McCormack, Global Head of Sovereigns, says a strong recovery of global trade is some way off. Structural and cyclical issues have limited the post-crisis trade recovery, with global export volumes consistently growing less than 5% since 2012.
'It appears probable that there will be at least a cyclical recovery in investment and trade,' said Mr. McCormack. 'While this is already underway in the U.S. and Japan, it has yet to take hold in the Eurozone.'
Until the European economic cycle turns more fully, Mr. McCormack suggests that longer-term structural issues will remain, including a peak in the development of cross-border value chains, an increase in the use of trade restrictions, and a trend decline in investment relative to consumption and government spending.
Other topics covered in this week's edition of Inside Credit include:
--Resolution of Lehman Brothers Teaches Lesson of Structure and Jurisdiction
--Active European Equity Funds Face Better Environment
--U.S. GSIB Buffer Rules Final, but Key Questions Remain
--EU Development Banks' Role to Grow
--Energy, Metals/Mining Defaults Hit U.S. Leveraged Loans
--Miners Better Prepared for USD1,000 Gold After Costs Fall
--China's New Oil Import Rules Have Minimal Impact on Status Quo
--U.S. Consumer Bankruptcies Set to Fall to an Eight-Year Low
--China's City Gas Sector Maturing with Moderating Growth
--Why Fossil Fuel Production Is Falling
'Inside Credit' is a weekly snapshot of Fitch Ratings' noteworthy content, selected from all sectors and regions. To receive the weekly edition, distributed every Friday at 8am ET, please sign up here:
http://pages.fitchemail.fitchratings.com/InsideCreditSignUp/
Media Relations: Alyssa Castelli, New York, Tel: +1 (212) 908 0540, Email: alyssa.castelli@fitchratings.com.
Media Relations: Alyssa Castelli, New York, Tel: +1 (212) 908 0540, Email: alyssa.castelli@fitchratings.com.
Additional information is available at 'www.fitchratings.com'.
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.
Endorsement Policy - Fitch's approach to ratings endorsement so that ratings produced outside the EU may be used by regulated entities within the EU for regulatory purposes, pursuant to the terms of the EU Regulation with respect to credit rating agencies, can be found on the EU Regulatory Disclosures page. The endorsement status of all International ratings is provided within the entity summary page for each rated entity and in the transaction detail pages for all structured finance transactions on the Fitch website. These disclosures are updated on a daily basis.
Комментарии