What's in store for the credit market in 2018?
Wednesday 29 November 2017
When considering the type and timing of their financing, companies need to consider not only their own needs, but also put these in the context of the market as a whole. Guy Stear, the Global Head of FIC Research (which combines rates, credit, FX and emerging markets) at Société Générale Corporate and Investment Banking, will share the fundamental tools used to understand the marcro credit cycle and then use them to explain where we are now and how the cycle will evolve in 2018.
The first part of the presentation will answer questions such as:
- How does a credit cycle work?
- How do rating agencies rate in theory and in practice?
- What determines the price of credit for the economy as a whole?
The second part of the presentation will anticipate the outlook for 2018. Fixed income markets had a generally good year of performance in 2017, as growth surprised to the upside, political risk waned and central banks kept liquidity high. 2018 looks likely to be more challenging, given the transfer of risk from banks to other parts of the market, the increase in global leverage, and the turning cycle in Chinese property.
This Masterclass is part of the evening conference cycle in our Executive MSc in Finance program.
Date : Wednesday 29 November 2017
Time : from 6.30pm
Location : HEC Paris, Porte de Champerret
Language : English