Daily Update — May 1, 2026
Chemical Supply Security; AI in Capital Markets; and Private Credit Scrutiny
Today is Friday, May 1, 2026, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Global Trade
Listen: Securing supply in a turbulent environment
Nick Powell, CEO of Ingredients and Specialties at Univar Solutions, joined the “Chemical Week Podcast” to discuss supply security and the chemical distribution industry. Topics included supply chain aftereffects of the Middle East war, the chemical end markets supporting growth in a low-demand environment, and how smart AI use and careful M&A strategy can propel distributors in 2026 and beyond.
The “Chemical Week Podcast” is the premier platform for discussion of issues affecting the global chemicals sector, hosted by editors from Chemical Week and S&P Global Energy. Subscribe to the “Chemical Week Podcast” on your favorite platform or visit chemweek.com/podcast to view the episode archive.
Artificial Intelligence
AI in Capital Markets: How AI is Changing the Game
For decades, capital markets have evolved through gradual innovation, but today that pace is accelerating at record speed. That shift is the focus of the latest episode of “A Capital Markets Conversation” with S&P Global experts Carl James and Chris Fenske.
Over the past five years, the interconnectivity between markets and electronic trading platforms has laid the groundwork for a new era. Fenske said: “It’s going to be an evolution, not a revolution, despite what is being assumed in the market.” While regulatory structures may slow some aspects, the underlying technology is moving faster than ever.
Private Markets
Private Credit And Middle-Market CLO Quarterly: House Of The Rising Spread
Market participants are increasingly scrutinizing private credit following the surge in redemption requests on perpetual nontraded business development companies and interval funds. Unlike their publicly traded counterparts, perpetual nontraded business development companies allow investors to redeem shares quarterly, typically up to a limit of 5%, though they can honor higher redemption requests, as was recently seen with Blackstone Private Credit Fund and Oak Tree Strategic Credit Fund. S&P Global Ratings believes that continued redemptions are likely, given the negative sentiment around the asset class, particularly from retail investors seeking liquidity.
Negative sentiment is also being driven by the perceived threat AI poses to software companies, which are heavily represented in the private credit space. Across business development companies, software companies make up about 20% of total assets. For middle-market collateralized loan obligations, the comparable par-weighted number is about 16%. Both figures exclude loans from IT services companies.
In case you missed it
- Oil product inventories at Fujairah in the United Arab Emirates fell 6.3% in the week ended April 27 to 6.982 million barrels, hitting a record low for the fourth straight week and extending the drop since the US-Iran war started to 66%.
- European corn prices have risen in recent days amid increased freight and fertilizer costs, affecting the global market, according to European traders.
- While expanding regulatory requirements have been pushing developments in digital sovereignty, increasing geopolitical concerns are driving greater urgency in improving control of digital assets.
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