Hungary Turns, Banking Reform Advances, Energy Risks Linger

In this episode of Credit Compass, Gordon Kerr, KBRA’s European Macro Strategist, examines how the IMF views the Strait of Hormuz disruption as reshaping Europe’s macro-credit outlook through slower growth, energy sensitivity, and renewed inflation risk. Gordon also explores Hungary’s political shift, the ECB’s banking reform proposals, and what easing volatility, but higher yields, mean for European credit markets.