bearish
Elevated US Banking Risk as Rate Hikes Bite Performance
21 Views05 Dec 2023 10:00
SUMMARY
- Since the start of 2023, the credit risk profiles of the US Banking sector have deteriorated substantially. The US Banking Criat Credit Cycle Index (CCCI) has risen from 2.9bps on January 1, 2023, to 6.7bps on December 1, 2023.
- The peak distress felt by the sector this year was in the aftermath of the regional banking crisis in March and the US government debt crisis in May, which saw the sector’s credit risk worsen above its peak of 10bps this year.
- Since then, the sector’s CCCI has remained relatively stable, albeit elevated.
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