Gordon Kerr's Credit Compass: Navigating European Credit Markets
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Latest episodes
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France Tests the ECB as Securitisation Advances
October 28, 2026 · 15 minIn this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, examines widening French government bond spreads and the potential for European Central Bank intervention, alongside a landmark provisional agreement on…
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Confidence Meets the Cost of Capital
October 21, 2026 · 13 minIn this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, explores how political instability in France, growing scrutiny of artificial intelligence financing, and tentative signs of recovery in the UK are creating…
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Resilience Under Pressure: So Far
October 14, 2026 · 13 minIn this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, explores how Europe is navigating a delicate balance between economic resilience and mounting external pressures, as a new European Union (EU)-China trade…
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Europe’s Political Pressures
October 7, 2026 · 10 minIn this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, discusses how political uncertainty is colliding with fiscal pressure across Europe, with France increasingly at the centre of investor attention. This…
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Industry Rises as Consumers Retreat
September 30, 2026 · 12 minIn this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, discusses how Europe’s economic picture is becoming increasingly divided, with manufacturing showing signs of recovery even as inflation and cautious…
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Europe’s Competitiveness Test
September 23, 2026 · 15 minIn this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, explores Europe’s push to improve competitiveness, deepen its capital markets, and strengthen energy security, while considering the political and…
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A Longer Tail to Inflation This Time?
September 16, 2026 · 11 minIn this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, examines how persistent inflation, energy-market pressures, shifting EU-China trade policy, and deeper Canada-Europe ties are reshaping the outlook for…
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Rising Yields
September 9, 2026 · 10 minIn this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, explores the renewed pressure on European bond markets from inflation risks, improving growth, fiscal challenges, and political uncertainty, which reinforce…
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Inflation Up, Yields Up, What Next?
September 2, 2026 · 8 minIn this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, unpacks the key messages from Jackson Hole, Wyoming,[SP1] examines what the latest euro-area inflation data could mean for the European Central Bank (ECB)…
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German Growth, Capital, and the Look Forward
August 26, 2026 · 11 minIn this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, discusses how Germany’s economy is showing signs of life, but the recovery remains heavily dependent on exports and manufacturing. He examines the latest GDP…
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Unlocking Capital, Power, and European Growth
August 12, 2026 · 11 minIn this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, examines three constraints reshaping European credit: drought and low river levels, evolving bank capital rules, and increasingly scarce power connections…
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Running Dry
August 5, 2026 · 8 minIn this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, explores how Europe's drought is exposing the vulnerability of its inland transport network, creating fresh risks for supply chains, manufacturing, and…

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