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This Week In Credit: Macroeconomic Focus Amid Market Turmoil (March 20, 2023)

Amid continued market turbulence--most recently exhibited by UBS’ Credit Suisse deal and the coordinated show of liquidity support by major central banks--the U.S. Federal Reserve will share a key monetary policy decision Wednesday. This week, we also have the BoE meeting Thursday, key consumer price index releases from Japan and the U.K., and heightened geopolitical sensitivity. While banking sector uncertainty and contagion fears are likely to dominate market news, longer standing risks like inflation and recessionary pressures remain very much in play. Corporate defaults continue to outpace those for the same period in 2022, while negative rating actions are keeping ahead of positive ones.


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