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Credit Currents - Moody's Ratings

Giulia Calcabrini, Chandra Ghosal, Patrick Ronk
China
Emerging Markets
Greenhouse Gas Emissions
Latin America
National Oil Companies
India
Carbon Neutrality
South Africa
Moody's Ratings
Middle East
Argentina
Turkey
Renewable Energy
Fossil Fuels
Petrobras
Pemex
Ecopetrol
YPF
Kenya
Moody's Global Emerging Markets Event

Join Moody’s Ratings’ analysts every other Thursday as they break down the biggest stories in credit and why they matter.

PublishesTwice monthlyEpisodes120Founded6 years ago
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InvestingBusinessBusiness NewsNews

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Artwork for Credit Currents

Latest Episodes

AI may have begun as a technology race, but it is increasingly becoming a race for capital and infrastructure. As hyperscalers invest at unprecedented levels, a SpaceX IPO and potential offerings from OpenAI and Anthropic, are offering new insights i... more

Instant, low-cost cross-border payments are moving closer to reality as blockchain, stablecoins and tokenization reshape financial infrastructure. This episode explores how distributed ledger technology can enable faster, more transparent transaction... more

Is the US economy increasingly dependent on high-income consumers?

In this episode of “Credit Currents,” Mark Zandi, Chief Economist at Moody’s Analytics, and Atsi Sheth, Chief Credit Officer at Moody’s Ratings, examine the reality of the K-shaped e... more

Private credit has hit a speed bump in the US, where the market is rapidly pivoting from growth to stricter risk discipline.

At our flagship “Credit Frontiers” event, we sat down with Moody’s leaders to discuss what’s behind these “bad vibes” about ... more

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Recent Guests

Kevin McNeil
VP at Moody's Ratings who covers tech
Moody's Ratings
Episode: Big Tech’s AI Spending Surge: What It Means for Credit Risk
Lucas Viegas
Senior analyst covering Latin American Financial Institutions
Moody's Ratings
Episode: Next-Gen Payments and Digital Frontiers: Speed, Risk and Adoption
Mark Zandi
Chief economist at Moody's Analytics
Moody's Analytics
Episode: Why the K-Shaped Economy Threatens US Growth
Atsi Sheth
Chief Credit Officer at Moody's Ratings
Moody's Ratings
Episode: Why the K-Shaped Economy Threatens US Growth
Marc Pinto
Global Head of Private Credit, Moody's Ratings
Moody's
Episode: Private Credit: “Bad Vibes” and the Changing Conversation
David Hamilton
Managing Director, Moody's Analytics, asset management research
Moody's Analytics
Episode: Private Credit: “Bad Vibes” and the Changing Conversation
Rahul Ghosh
Heads up at Sustainable Finance Thought Leadership
Sustainable Finance Thought Leadership
Episode: An Era of Pragmatic Transition: What’s Next for Energy Markets
Donald Robertson
Co-leads Moody's banking coverage
Moody's Ratings
Episode: Stablecoins, Tokenization and the Future of Finance
Megan Fox
Associate Managing Director in Moody's Financial Institutions Group
Moody's Ratings
Episode: Banking Rules are Changing: Here’s Why it’s Net Negative for Credit

Reviews

5.0 out of 5 stars from 39 ratings
  • Excellent Insight

    Great podcast, great host

    Apple Podcasts
    5
    Glen Jimbo
    Canada6 years ago
  • Fantastic conversation on Emerging Markets

    This is great! I was able to get a quick concise overview of EM in this podcast. A very interesting take on names that might have problems in the coming months.

    Apple Podcasts
    5
    John Shelburne
    United States6 years ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Excellent insight into credit markets and risk management from a credible host.
High-quality analysis on regulatory and market structure shifts affecting credit risk.
Conversations are concise and informative, great for quick takeaways on EM and macro themes.
Guests bring practical expert perspectives that help translate headlines into credit implications.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Apple Podcasts
#69
Hong Kong/Business/Investing
Apple Podcasts
#140
South Korea/Business/Investing
Apple Podcasts
#168
Hong Kong/Business

Talking Points

Recent interactions between the hosts and their guests.

Big Tech’s AI Spending Surge: What It Means for Credit Risk
Q: From a credit perspective, how should we think about Frontier Labs versus SpaceX in terms of risk and stability?
SpaceX has established diversified revenue streams and vertical integration that support margins and growth, while Frontier Labs is earlier-stage with higher execution risk and less diversification, making their credit profiles more sensitive to execution and funding availability.
Big Tech’s AI Spending Surge: What It Means for Credit Risk
Q: What do equity raises or IPOs potentially tell us that we didn't know before?
Equity raises add transparency to the market, show that financing will come from multiple sources, and demonstrate a company's commitment to balance sheet strength, while also highlighting potential dilution and capital structure implications for future credit assessments.
Big Tech’s AI Spending Surge: What It Means for Credit Risk
Q: All right. So let's start with the money. We're hearing about astronomical sums being invested in the sector. Can you give us a sense of the size and scale of that capital flowing in?
The estimated spend across six major hyperscalers is approaching $800 billion this year and about $1 trillion next year, totaling around $1.8 trillion over two years, which dwarfs typical capex and signals a massive expansion cycle in AI infrastructure.
Why the K-Shaped Economy Threatens US Growth
Q: Given the data, what does this mean for the probability of a recession?
The discussion suggests that the probability is not determined by a single factor, but the economy's sensitivity to the top income cohort and financial conditions means a shock to stock wealth, credit conditions, or energy costs could tighten demand and raise the risk of a downturn.
An Era of Pragmatic Transition: What’s Next for Energy Markets
Q: How do you view the pace of energy transition amid shifting government priorities and geopolitical tensions?
The transition is ongoing but increasingly internationalized and pragmatic: governments balance decarbonization with energy security and price stability, while private finance backs both renewables and transition assets like natural gas where appropriate.

Audience Metrics

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Frequently Asked Questions About Credit Currents

What is Credit Currents about and what kind of topics does it cover?

This show provides in-depth discussion on credit markets, with a focus on private credit, banking regulation, sustainable finance, and the evolving landscape of media and technology finance. Episodes typically feature Moody's Ratings analysts offering data-backed context on risk, liquidity, and capital dynamics, often linking regulatory shifts, geopolitical events, and macro trends to credit outcomes. Noteworthy strengths include pragmatic takes on transition strategies (e.g., energy and sustainability financing), a clear emphasis on how policy and market structure affect credit risk, and practical implications for issuers and investors across US and international markets.

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1. Bloomberg Surveillance
2. UBS On-Air: Market Moves
3. Bloomberg This Weekend
4. The Credit Edge by Bloomberg Intelligence
5. Exchanges

How many episodes of Credit Currents are there?

Credit Currents launched 6 years ago and published 120 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Credit Currents?

Recent guests on Credit Currents include:

1. Kevin McNeil
2. Lucas Viegas
3. Mark Zandi
4. Atsi Sheth
5. Marc Pinto
6. David Hamilton
7. Rahul Ghosh
8. Donald Robertson

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