Productivity, Politics, and the Price of Debt
From Gordon Kerr's Credit Compass: Navigating European Credit Markets by KBRA
May 20, 2026 · 13 min
About this episode
Gordon Kerr discusses Europe's productivity challenges and their implications for credit markets and investment.
In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, examines whether Europe’s productivity problem is more nuanced than the “US exceptionalism” narrative suggests, and what that means for credit markets, technology autonomy, and long-term investment. Gordon then turns to the UK’s growth challenge and the rise in long-dated sovereign yields, highlighting why fiscal credibility and funding costs remain central risks for European economies.
People in this episode
Host: Gordon Kerr
Topics covered
- productivity
- credit markets
- technology autonomy
- long-term investment
- fiscal credibility
- sovereign yields
Keywords
- productivity
- credit markets
- Europe
- UK
- sovereign yields
- fiscal credibility
- investment
Mentioned in this episode
Organizations: KBRA
Places: Europe, UK
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