DBRS Ratings GmbH (DBRS Morningstar) confirmed the Kingdom of Sweden’s (Sweden) Long-Term Foreign and Local Currency – Issuer Ratings at AAA. At the same time, DBRS Morningstar confirmed Sweden’s Short-Term Foreign and Local Currency – Issuer Ratings at R-1 (high). The trend on all ratings is Stable.
In this commentary we provide an update to DBRS Morningstar’s Baseline Macroeconomic Scenarios. Key highlights include: -- Economic data continues to show resilience amid tighter financial conditions. Forecasts for 2023 continue to improve, while expectations for 2024 are generally worsening as projected slowdowns are pushed further out into the future. -- While a mild advanced economy recession will likely have a limited impact on rated sovereigns, the risk of a deeper downturn in 2024 canno...
This commentary provides an update to DBRS Morningstar's Baseline Macroeconomic Scenarios. These baseline scenarios provide our estimate of the current market consensus, and are drawn from a simple median calculation across various external contributor forecasts. In this update, we discuss the deteriorating outlook for 2024. To date, we note that the March 2023 bank failures have had only a modest impact on forecasts. We continue to see considerable downside risks to the baseline. Key Highligh...
In this latest edition of the DBRS Morningstar Macroeconomic Update for Europe, we discuss how inflation persistence may prompt the European Central Bank and the Bank of England to raise interest rates further. Key Highlights EURO AREA • As interest rates increase, credit growth has started to slow. Energy prices have fallen but core inflation remains sticky, pointing to further monetary tightening in the coming months. • With the energy crisis fading and the labour market remaining strong, ...
DBRS Ratings GmbH (DBRS Morningstar) confirmed the Kingdom of Sweden’s (Sweden) Long-Term Foreign and Local Currency – Issuer Ratings at AAA. At the same time, DBRS Morningstar confirmed Sweden’s Short-Term Foreign and Local Currency – Issuer Ratings at R-1 (high). The trend on all ratings is Stable.
This commentary provides an update to DBRS Morningstar’s Baseline Macroeconomic Scenarios. These baseline scenarios provide our estimate of the current market consensus, and are drawn from a simple median calculation across various external contributor forecasts. In this update, we discuss the ongoing monetary tightening and bleak outlook for 2023. Key highlights include: -- Forecasts for 2023 have deteriorated in recent months. Growth will be very weak or negative for most major economies. -- ...
This commentary provides an update to DBRS Morningstar’s Baseline Macroeconomic Scenarios. These baseline scenarios provide our estimate of the current market consensus, and are drawn from a simple median calculation across various external contributor forecasts. In this update, we discuss the ongoing monetary tightening and growing risks of recession. Key Highlights • Baseline forecasts are becoming increasingly bearish, particularly the outlook for 2023. High inflation, energy and labor sho...
The right-wing bloc appears to have obtained a narrow victory in the 11 September 2022 parliamentary election in Sweden (AAA, Stable trend), according to preliminary results with 95% of votes counted. However, given the narrow gap of 0.7 percentage points between the two blocs, the postal votes and the ballots from abroad could still swing the final result. The Swedish Electoral Authority anticipates more conclusive results on Wednesday, 14 September 2022 at the earliest. Key Highlights include...
DBRS Ratings GmbH (DBRS Morningstar) confirmed the Kingdom of Sweden’s Long-Term Foreign and Local Currency – Issuer Ratings at AAA. At the same time, DBRS Morningstar confirmed the Kingdom of Sweden’s Short-Term Foreign and Local Currency – Issuer Ratings at R-1 (high). The trend on all ratings is Stable.
This commentary provides an update to DBRS Morningstar’s Baseline Macroeconomic Scenarios. These baseline scenarios provide our estimate of the current market consensus, and are drawn from a simple median calculation across various external contributor forecasts. We also explore some noteworthy risks to the baseline scenarios, and briefly discuss some potential implications for credit ratings. Key highlights include: • 2022 growth projections have deteriorated in recent months, dri...
DBRS Morningstar has released a commentary updating our Baseline Macroeconomic Scenarios for Rated Sovereigns. These baseline scenarios provide our estimate of the current market consensus, and are drawn from a simple median calculation across various external contributor forecasts. We also explore some noteworthy risks to the baseline scenarios, and briefly discuss some potential implications for credit ratings. Key highlights include: • Baseline forecasts have deteriorated in rec...
DBRS Ratings GmbH (DBRS Morningstar) confirmed the Kingdom of Sweden’s Long-Term Foreign and Local Currency – Issuer Ratings at AAA. At the same time, DBRS Morningstar confirmed the Kingdom of Sweden’s Short-Term Foreign and Local Currency – Issuer Ratings at R-1 (high). The trend on all ratings is Stable.
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