Productivity, Politics, and the Price of Debt

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.