Gordon Kerr

Finding a path through the fog of #securitisation and #coveredbonds market news (and #securitization too). RT's are not endorsements.

[Gordon Kerr @securitisation]

Check out the latest article in my newsletter: Expansion Comes With Bottlenecks https://t.co/67Li9jWLec via @LinkedIn

[KBRA @krollbondrating]

KBRA’s Gordon Kerr, European Macro Strategist, was featured in @IrishTimes discussing mounting pressure on UK bond markets amid renewed political uncertainty surrounding Prime Minister Keir Starmer’s leadership. The article explores how rising gilt yields, weak growth and concerns over fiscal discipline are driving investor unease across the UK economy.

Gordon noted that “fiscal discipline is not optional” at a time when debt interest costs remain elevated and market confidence is increasingly sensitive to political developments. He highlighted that while leadership speculation may dominate headlines, the UK’s underlying economic constraints — including weak productivity growth, softer labour markets and narrow fiscal flexibility — remain the central challenge.

The piece also examines how markets are reacting to fears of looser spending policies and persistent inflation risks, drawing comparisons to previous periods of UK market instability.

Read more in The Irish Times: https://t.co/YJm04tX2kd
Read more in Gordon Kerr’s Credit Compass newsletter: https://t.co/uJt1qKhRYx

#FixedIncome #BondMarkets #UKEconomy #MacroStrategy #FiscalPolicy #CreditMarkets #EconomicOutlook #GiltMarkets #MarketInsights #CreditCompass

[Gordon Kerr @securitisation]

@krollbondrating Highlights the limited impact #privatecredit stress would have on European financial institutions.

[KBRA @krollbondrating]

European middle market CLOs are gaining momentum as private credit managers explore new funding and portfolio management tools. KBRA examines how replenishment features, multicurrency structures, and hybrid CLO discussions are shaping this evolving market. https://t.co/nD9GnREmcr | #KBRA #PrivateCredit #CLOs

[KBRA @krollbondrating]

Private credit exposure appears manageable at the euro area level, but the ECB is sending a more cautious signal on market spillovers. Banks’ direct exposure looks limited, while insurers and pension funds make the nonbank transmission channel more relevant. Listen to the latest episode of Credit Compass for more on private credit risk, the UK-GCC agreement, and AI adoption in asset management: https://t.co/pL8Rcp83Fz

#KBRAPodcasts #MacroCredit #Europe #privatecredit #banks #pensionfunds

[Gordon Kerr @securitisation]

Check out the latest article in my newsletter: A Gulf Deal and Private Credit Stress Test https://t.co/m9zITElLy5 via @LinkedIn

[Gordon Kerr @securitisation]

Check out the latest article in my newsletter: Productivity, Politics, and the Price of Debt https://t.co/XvA0eb7KDb via @LinkedIn

[Gordon Kerr @securitisation]

@krollbondrating Very timely! I look forward to it.

[KBRA @krollbondrating]

Join KBRA in London on Wednesday, 20 May 2026, for our European Data Centres panel as sector experts discuss the key trends shaping the evolving data centre landscape across Europe. Explore the themes driving growth, investment, and infrastructure demand. Register today: https://t.co/BCisTn99kU | #KBRA #datacenters

[Gordon Kerr @securitisation]

Check out the latest article in my newsletter: Canaries in the Credit Mine? https://t.co/s6P2UKaqHw via @LinkedIn

[KBRA @krollbondrating]

Available on Demand: KBRA's Perpetual-Life BDC Review and 2026 Outlook Webinar. Our latest webinar delivered a timely look at perpetual-life BDC performance, highlighting trends in redemption activity and how the sector continues to evolve in today’s market. The discussion offered valuable perspective for investors and market participants navigating shifting liquidity dynamics and structural considerations.

View the recording for an in-depth look at the insights shaping key developments. https://t.co/Vi0hUILU7e

#KBRA #BDC #financialmarket #creditanalysis #creditrisk #financialinstitutions #corporates

[Gordon Kerr @securitisation]

Check out the latest article in my newsletter: Caught Between Oil and AI https://t.co/JiBlZOlJBJ via @LinkedIn

[KBRA @krollbondrating]

Falling consumer confidence across Europe signals a more cautious demand outlook and a more selective environment for credit. With inflation expectations rising and lending conditions still tight, the read-through for growth and policy is becoming more complicated. Listen to the latest episode of Credit Compass for more on how weaker surveys are shaping the market view: https://t.co/WuHlEsgxC2

#KBRAPodcasts #creditcompass #macrocredit #Europe #lending

[Gordon Kerr @securitisation]

Check out the latest article in my newsletter: Uncertainty Prevails https://t.co/6kiBHTIyKD via @LinkedIn

[Gordon Kerr @securitisation]

Check out the latest article in my newsletter: BIF, Bunds, and Britain’s AI Bet https://t.co/H1hkoDFP2t via @LinkedIn

[Gordon Kerr @securitisation]

Check out the latest article in my newsletter: Hungary Turns, Banking Reform Advances, Energy Risks Linger https://t.co/KgY1xQ0BAs via @LinkedIn

[Gordon Kerr @securitisation]

Check out the latest article in my newsletter: Select Resilience Partially Offsets Broader Headwinds https://t.co/BV7kVtuuh8 via @LinkedIn

[KBRA @krollbondrating]

KBRA’s new Private Credit: Deep Dive on AI and Software finds that AI-related credit risk is broadly manageable, but timing matters.

As shown in the green box below, 25% of software and technology companies with relatively high AI exposure face debt maturities by mid-2027—representing $11 billion of debt. That’s compared to just 12–14% for the lower-risk software and technology cohorts and ranks second highest among all other sectors.

While AI-driven impacts on revenue and margins are expected to unfold gradually, maturities are fixed. This dynamic may shift lender focus toward forward-looking assessments of AI vulnerability, contributing to greater differentiation between stronger and weaker credits.

The takeaway: AI risk alone is unlikely to drive widespread defaults, but in combination with near-term refinancing needs, it can become a more immediate credit consideration.

Read the full report here: https://t.co/DpM4wYnZ9O

[Tymofiy Mylovanov @Mylovanov]

Browder: Putin's shut down the internet in Moscow and St. Petersburg. He's really scared.

Russian government had a deal with their people — we do terrible things in Ukraine, you can live a happy life at least in St. Petersburg. Everybody isn't living a happy life anymore. 1/

[Gordon Kerr @securitisation]

Anchors Strained, Spreads Wider, Yields in Focus https://t.co/LFDmfvpbY6