Fixed Interests

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From global macroeconomic trends to impacts on the credit markets to regulatory and political changes, Fixed Interests delivers your economic update in 10 minutes or less.

Fitch Ratings


    • Jun 18, 2025 LATEST EPISODE
    • every other week NEW EPISODES
    • 10m AVG DURATION
    • 149 EPISODES


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    Latest episodes from Fixed Interests

    CEE Electoral Cycle: Sovereign Rating Implications

    Play Episode Listen Later Jun 18, 2025 19:04


    Paul Gamble, Senior Director of Sovereign Ratings, and Erich Arispe, Head of Emerging Europe Sovereign Ratings, discuss the credit implications and common themes of the 2025/2026 electoral cycle in Central and Eastern Europe.

    Tariff Uncertainty Continues To Shape Credit Risk Outlook

    Play Episode Listen Later May 23, 2025 9:30


    Fitch's 2Q25 Risk Headquarters report highlights a worsened risk outlook amid US tariff volatility. David Prowse and Justin Patrie discuss key points from the report, centered around how Trump-era policies continue to elevate investor concerns.

    Listen and Subscribe to Fitch Ratings Fixed Interests Podcast

    Play Episode Listen Later May 19, 2025 1:01


    From global macroeconomic trends to sovereign credit developments to regulatory and political changes, Fitch's Fixed Interests podcast delivers the analyst insights and updates you need to stay ahead in a rapidly evolving market. Available wherever you get your podcasts.

    Mexico's Sovereign Rating Amid Global Trade Tensions

    Play Episode Listen Later May 14, 2025 16:29


    Shelly Shetty, Managing Director, Americas Sovereigns and Todd Martinez, Senior Director, Sovereigns, discuss Mexico's recent rating affirmation, and how the sovereign is navigating global trade tensions and domestic fiscal challenges.

    European Sovereigns: Navigating US Policy Shifts

    Play Episode Listen Later May 1, 2025 11:24


    Explore the impact of US tariffs on European sovereigns with Jan Friederich, Head of EMEA Sovereigns, and Federico Barriga Salazar, Head of Western European Sovereigns, as they discuss strategic responses and fiscal implications for Europe.

    China's Fiscal Future: Insights on the Recent Rating Downgrade

    Play Episode Listen Later Apr 17, 2025 12:51


    Thomas Rookmaaker, Head of APAC Sovereign Ratings, and Jeremy Zook, lead analyst for China, discuss China's recent downgrade, covering key drivers including the sovereign's weakening public finances and rapidly rising public debt ratios.

    US Housing Economy Update - Downside Risks Increasing

    Play Episode Listen Later Apr 11, 2025 13:18


    Olu Sonola, Chief US Economist, and Sarah Repucci, Senior Director, Credit Commentary and Research, delve into Fitch's latest US Cross-Sector Housing Monitor, discussing the US housing outlook and risks from tariffs, labor costs and lower sentiment.

    Risk Headquarters 1Q25 - Key Risks to Global Credit

    Play Episode Listen Later Mar 18, 2025 10:01


    David Prowse and Justin Patrie discuss the key points in Fitch's 1Q25 Risk Headquarters report, covering how the credit risk environment has evolved since the start of the year in response to inflation, new Trump administration policies, and more.

    India's Economic and Fiscal Outlook

    Play Episode Listen Later Mar 10, 2025 13:18


    Join Thomas Rookmaaker and Jeremy Zook from the APAC Sovereigns team as they explore India's 2025 budget, its path for debt reduction, economic outlook, and implications for the sovereign rating amid global uncertainties.

    Private Credit - 2024 Trends, 2025 Expectations

    Play Episode Listen Later Feb 10, 2025 11:33


    Join Justin Patrie, Head of Credit Commentary & Research, and Meghan Neenan, Head of North America NBFI, as they review 2024's private credit trends, including the growth of asset-based finance, and discuss outlooks on the sector for 2025.

    Trump Agenda and Outlook for US Fiscal Policy and Debt Trajectory

    Play Episode Listen Later Jan 27, 2025 16:03


    Shelly Shetty, Managing Director, Americas Sovereigns and Richard Francis, Senior Director, Sovereigns, look into the impact new Trump administration policies, including tariffs and tax cuts, may have on US public finances and its sovereign rating.

    Global Credit Outlook 2025

    Play Episode Listen Later Jan 16, 2025 8:52


    David Prowse and Justin Patrie discuss the key points in Fitch's 2025 Global Credit Outlook report, including positive drivers for the market such as falling interest rates, and negative drivers including escalating geopolitical risks.

    Global Economic Outlook – Global Growth Stable as Forecasts for Major Economies Shift

    Play Episode Listen Later Dec 12, 2024 17:23


    Tariff uncertainty in the US, deflation pressures in China, and political instability in France and Germany are driving forecast changes for 2025. Join Brian Coulton and Ed Parker as they cover these and other developments detailed in Fitch's new Global Economic Outlook report.

    US Election Impact - Tariffs, Credit Risks, and Market Reactions

    Play Episode Listen Later Dec 2, 2024 9:54


    Richard Francis, David Prowse, and Justin Patrie discuss the implications of the recent US election, including potential impacts on the US budget, sovereign credit profile, and the macroeconomic effects of new tariffs on global markets.

    Public Finances and CEE Sovereign Ratings

    Play Episode Listen Later Nov 14, 2024 14:28


    Erich Arispe, Head of Emerging Europe (EE) Sovereigns, and Malgorzata Krzywicka, Associate Director EE Sovereigns, discuss Central and Eastern Europe's current state of public finances and the region's fiscal consolidation prospects and challenges.

    US Banks - 2024 Trends, 2025 Expectations

    Play Episode Listen Later Nov 5, 2024 12:17


    Christopher Wolfe, Managing Director for North America Banks, and Justin Patrie, Head of Fitch Wire, look back at US banks' performance and rating trends in 2024 and discuss expectations for 2025, including potential post-election policy changes.

    Common Framework Restructurings - Progress and Challenges

    Play Episode Listen Later Oct 29, 2024 17:31


    Explore the latest developments in Common Framework debt restructurings for Ethiopia, Zambia, and Ghana and the impacts of new IMF policies with Paul Gamble, Head of MEA Sovereign ratings, and Thomas Garreau, Associate Director, MEA Sovereigns.

    Outlook on Emerging Market Economies

    Play Episode Listen Later Oct 10, 2024 7:44


    Duncan Innes-Ker, Senior Director, Fitch Wire, and Justin Patrie, Head of Fitch Wire, explore challenges and opportunities for emerging market economies, including recent rate cuts, weaker demand in China, and post-election policy changes in the US.

    Economic Policy Expectations for India

    Play Episode Listen Later Oct 2, 2024 14:56


    Thomas Rookmaaker, Head of APAC Sovereigns, and Jeremy Zook, Lead Analyst for India, discuss India's sovereign rating, and what to expect from the country's economic policy following the election of Narendra Modi to his third term as prime minister.

    US Election and Credit Implications

    Play Episode Listen Later Sep 10, 2024 17:11


    Richard Francis, Richard Hunter and Justin Patrie look into the potential effects the upcoming US election could have on credit, touching on the US' sovereign rating, the different fiscal policy plans offered by the candidates, and more.

    Fiscal Policies in the European Union

    Play Episode Listen Later Sep 3, 2024 11:11


    Head of EMEA Sovereigns Jan Friederich and Head of Western European Sovereigns Federico Barriga Salazar discuss fiscal policies in the EU, including the impact of the new fiscal rules and implications for the ECB's Transmission Protection Instrument.

    Global Credit Risk through 1H24

    Play Episode Listen Later Aug 19, 2024 8:09


    David Prowse, Senior Director, Fitch Wire, and Justin Patrie, Head of Fitch Wire, look into our 3Q24 Risk Headquarters report, covering the ongoing impact of high interest rates, escalating geopolitical risks, real estate market challenges and more.

    Global Economic Outlook – Monetary Policy Enters an Easing Phase

    Play Episode Listen Later Jul 16, 2024 16:21


    Brian Coulton, Chief Economist, and Ed Parker, Sovereigns Managing Director, parse Fitch's latest Global Economic Outlook report, covering focus points including the gradually slowing US economy, global monetary policy developments and more.

    Mexico's New Administration - Key Challenges and Opportunities

    Play Episode Listen Later Jun 27, 2024 11:21


    Shelly Shetty, Managing Director, Americas Sovereigns, and Carlos Morales, Lead Mexico Analyst, look at Mexico's recent elections, including challenges and opportunities for the new administration, and rating drivers moving forward.

    Estimating the Impact of Potential US Tariff Hikes

    Play Episode Listen Later Jun 12, 2024 11:13


    With elections in the U.S. approaching, Brian Coulton, Chief Economist, and Alex Muscatelli, Director, Economics, look into the potential impact a renewed trade war sparked by US-led tariff hikes could have on the global economy

    Contagion Risks from Rising Commercial Real Estate Delinquencies

    Play Episode Listen Later Jun 10, 2024 20:14


    Euan Gatfield, Head of EMEA CMBS, joins Justin Patrie, Head of Fitch Wire, to explore the current CRE environment, delving into rate cycle impacts and other factors such as e-commerce, post-Covid office space utilization and the energy transition

    Post-Election Economic Outlook for Turkiye

    Play Episode Listen Later Jun 3, 2024 15:21


    Paul Gamble, Head of Emerging European Sovereigns, and Erich Arispe, Lead Analyst on Turkiye, discuss the positive rating actions around Turkiye following the country's 2023 economic policy changes, and the impact of recent local elections.

    Risk Headquarters 2Q24

    Play Episode Listen Later May 8, 2024 11:00


    Richard Hunter, Chief Credit Officer, and Justin Patrie, Head of Fitch Wire, dive into the latest Risk Headquarters report, outlining the main risks to global credit this quarter including real estate, geopolitics, China macroeconomics, and more.

    Credit Views on Pakistan Post-Election

    Play Episode Listen Later Apr 23, 2024 9:01


    Thomas Rookmaaker, Head of APAC Sovereigns, and Krisjanis Krustins, Primary Analyst on Pakistan discuss the results of Pakistan's recent elections, their implications for IMF talks, and the country's reform potential and funding prospects.

    The Growing World of Private Credit

    Play Episode Listen Later Apr 9, 2024 10:00


    Justin Patrie, Head of Fitch Wire, and Meghan Neenan, Head of North America NBFI, dive into the rapidly expanding private credit sector, covering the origins of the space, its growing profile following the 2008 financial crisis and more.

    Economic Reforms In Argentina Under Milei - The First 100 Days

    Play Episode Listen Later Mar 29, 2024 13:29


    Join Shelly Shetty, Head of Sovereign Ratings for Asia & the Americas, and Todd Martinez, Primary Argentina Analyst & Americas Co-Head, as they discuss the potential economic impacts and rating implications for Argentina under President Milei.

    Outlook for Chinese Credit - What to Expect in 2024

    Play Episode Listen Later Mar 19, 2024 12:01


    Justin Patrie, Senior Director and Head of Fitch Wire, is joined by fellow Credit Policy Senior Director Lan Wang to discuss the outlook for China's economy, covering policy support, fiscal rebalancing and the property sector, among other topics.

    Geopolitical Tensions and Economic Risks in the Middle East and North Africa

    Play Episode Listen Later Mar 8, 2024 8:24


    Toby Iles, Head of MEA Sovereigns, joins Head of EMEA Sovereigns Jan Friederich to break down the economic and rating implications of geopolitical risks in the Middle East and North Africa.

    A Challenging Environment for U.S. Commercial Real Estate

    Play Episode Listen Later Feb 26, 2024 11:07


    Justin Patrie, Senior Director and Head of Fitch Wire, and Melissa Che, Senior Director, North America CMBS, explore the challenges facing U.S. commercial real estate in 2024, including refinancing issues, weakened fundamentals and more.

    2024 Global Credit Outlook - Key Themes and What to Expect

    Play Episode Listen Later Feb 2, 2024 12:46


    Richard Hunter, Chief Credit Officer, and Justin Patrie, Senior Director, discuss the key themes of Fitch's recent 2024 Global Outlook report, including sustained elevated interest rates, asset quality deterioration, a US growth slowdown, and more.

    Opportunities from Supply Chain Diversification In Emerging Markets

    Play Episode Listen Later Jan 24, 2024 14:13


    Fitch sovereign analysts Shelly Shetty, Managing Director, Todd Martinez, Senior Director, and Jeremy Zook, Director, discuss the impact of supply chain diversification trends such as nearshoring/friendshoring on emerging markets.

    Global Economic Outlook - High Rates and Slowing Growth

    Play Episode Listen Later Dec 18, 2023 12:51


    Brian Coulton, Chief Economist, and Ed Parker, Sovereigns Managing Director, discuss Fitch's Global Economic Outlook for 2024, including stagnation in the Eurozone, property market concerns in China, and slowing growth in the US

    Fiscal Developments in Western Europe

    Play Episode Listen Later Dec 7, 2023 12:37


    Federico Barriga Salazar, Head of Western European Sovereigns, and Greg Kiss, Sovereigns Director, discuss how underlying fiscal trends in Western Europe have become more challenging in 2023, and divergent debt dynamics among the regions' economies.

    Assessing Common Framework Debt Restructuring

    Play Episode Listen Later Nov 15, 2023 11:30


    Head of EMEA Sovereigns Jan Friederich is joined by MEA Associate Director Thomas Garreau to discuss the functioning of sovereign restructurings under the G20 Common Framework and cases of its application.

    Outlook on APAC Frontier Markets

    Play Episode Listen Later Nov 2, 2023 13:57


    APAC Frontier Markets continue to face external financing challenges - join Thomas Rookmaaker, Head of APAC Sovereigns, and Sovereign Directors Sagarika Chandra and Krisjanis Krustins, for a discussion of what to expect in these markets in 2024.

    US Sovereign Rating and Outlook Going Forward

    Play Episode Listen Later Oct 4, 2023 9:48


    Shelly Shetty, Managing Director, Sovereigns, and Richard Francis, Senior Director, Sovereigns, discuss the recently averted US government shutdown, the August 1st ratings downgrade, and the outlook for US public finances & the rating going forward.

    China's slowdown and sovereign risks

    Play Episode Listen Later Sep 22, 2023 10:38


    As Fitch cuts its forecasts for China's economic growth, Thomas Rookmaaker, Jeremy Zook and Brian Coulton discuss the implications of the deteriorating macro-outlook for China's sovereign creditworthiness.

    Nigeria: Policy Settings Under the New Government

    Play Episode Listen Later Sep 18, 2023 11:10


    Toby Iles, Head of Middle East and Africa Sovereigns, and Doug Winslow, Senior Director, Sovereigns, discuss the direction of reform and related credit developments since the new Nigerian administration took office.

    Resilience, Nearshoring and What to Expect from Mexico's Economy

    Play Episode Listen Later Aug 10, 2023 11:26


    Japan's monetary policy: shifting gears or doubling down?

    Play Episode Listen Later Jul 24, 2023 9:45


    Will the Bank of Japan follow the world in tightening? How far could rates go? What could that mean for public finances? Thomas Rookmaaker, Head of APAC Sovereigns, and Krisjanis Krustins, Primary Analyst on Japan, explore Fitch's latest thinking.

    How Sustainable are Egypt's External Finances

    Play Episode Listen Later Jul 18, 2023 11:48


    In the latest edition of Fixed Interests, Ed Parker, Global Head of Sovereigns Research, and Laure de Nervo, Primary Egypt Analyst, look into the current pressures on Egypt's economy following Fitch's downgrade of its sovereign credit rating in May.

    Global Economic Outlook – Central Bank Inflation Fight Continues

    Play Episode Listen Later Jun 26, 2023 14:54


    In the latest episode of Fixed Interests, Brian Coulton, Chief Economist, and Ed Parker, Global Head of Sovereigns Research, explore Fitch's new Global Economic Outlook report, covering China's recovery, central bank inflation concerns, and more.

    Turkish Elections and the Economic Impact

    Play Episode Listen Later Jun 19, 2023 11:17


    Paul Gamble, Head of Emerging European Sovereigns, and Erich Arispe, Sovereigns Senior Director, discuss the recent elections in Turkey, and how policy decisions by the Erdogan administration may impact the domestic economy

    Central America's Positive Rating Momentum

    Play Episode Listen Later May 26, 2023 10:11


    Stress and consequences for the US Banking Sector

    Play Episode Listen Later Apr 5, 2023 9:42


    In the latest episode of Fixed Interests, James Longsdon, Global Head of Banks, and Christopher Wolfe, Head of Bank Ratings, North America,  discuss the recent volatility in the US banking sector, including what still to watch in 2023.

    Kazakhstan - Geopolitics and Oil Exports

    Play Episode Listen Later Mar 28, 2023 8:29


    Crude oil exports to Western Europe are vital to Kazakhstan's economy - learn more about the related geopolitical challenges from Michele Napolitano, Head of Western European Sovereigns, and Arvind Ramakrishnan, Director, Emerging Europe Sovereigns

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