Global Economic Outlook – Better But Not Good

Justin Patrie and Duncan Innes-Ker discuss how emerging market credits are faring this year amid slower global growth, geopolitical risks, and shifting U.S. policy - highlighting ratings resilience and modest positive momentum.

Justin Patrie and David Prowse discuss key themes from Fitch’s Global Credit Risk Outlook, including slower growth, tariff uncertainty, and weaker credit conditions—as well as the overall ratings resilience amid these challenges.

Thomas Rookmaaker, Head of APAC Sovereign Ratings, and Krisjanis Krustins, lead analyst for Japan, discuss Japan’s fiscal outlook, covering the impact of rising bond yields, fiscal populism and long-term spending pressures.

Brian Coulton, Chief Economist, and Ed Parker, Sovereigns Managing Director, discuss Fitch’s mid-year Global Economic Outlook, focusing on global growth forecast updates since April and how tariffs are driving key changes to projections.

The credit outlook for global corporates has worsened in 2025, with 14 sectors and sub-sectors deteriorating at mid-year vs. 5 at end-2024. Justin Patrie and Carla Taylor, Head of Research for the Americas, discuss the drivers and implications.

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.

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.

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.

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.

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.