Prospects for lower GDP growth will lead to higher delinquencies, lower business growth and fiscal constraints that will limit the government's ability to support banks. Economic policy uncertainty could further affect investment decisions.

Spillovers from an uncertain operating environment are most apparent in softer capital formation, although some signs of trade and investment diversion are emerging.

Digital platforms and demand for services are fueling growth in the number of freelancers and independent workers in the US. These workers would likely feel the effects of an economic downturn more acutely than employees at traditional companies.

The decline in the Selic reference rate will help further stimulate capital market activity and benefit interest-rate sensitive sectors such as utilities and infrastructure.

Improvements in the future growth potential of many EU countries depend on stepped-up productivity and investment. These are only likely to materialise if progress is made in structural economic reforms of labour markets, product and service markets.

Mexico’s proposed new budget assumes relatively optimistic GDP growth and oil production. These assumptions result in the budget overestimating next year's government revenue and underestimating the financial support that PEMEX may require.

US interest rates are likely to remain low for some time, which will have a large impact on the financial strategies of US bank and non-bank financial institutions. The low rate environment will encourage more risk-taking and US bank consolidation.

While capital controls will support the Argentine peso, foreign currency deposit withdrawals will pressure reserves as policy uncertainty remains high through at least the end of the year.

The escalation of tensions between the US and China will further cloud the trade and economic outlook in Asia, with a predominantly negative effect at the sector level.

The new trade restrictions, which mark a further escalation of tensions between the world's two largest economies, will be credit negative for a number of US industries.

China's restrictions are credit negative for large soybean-producing states, as well as for food processors and providers of loans and other financial services to the farm sector.

The US administration has postponed a portion of its planned new tariffs on Chinese imports, but they remain a credit negative for US companies and retailers within the affected industries.

The continuing political uncertainty comes as the central government is very unlikely to achieve its deficit target for 2019.

Output disruption will not leave a long-lasting impact on the government or Saudi Aramco, but highlights elevated and broader-based exposure to geopolitical risk than previously assumed.

Argentina's nascent stabilization of economic activity has unraveled in the wake of national primary elections in August. The outcome triggered a severe market reaction, a credit negative for the sovereign and for most business sectors.

UK growth declined in Q2 2019 and the core inflation rate has stabilised in recent months. In a no-deal Brexit scenario, the UK economy could be permanently smaller than with a trade agreement.

Cyber threats will continue to grow in sophistication, pushing hospital managements to allocate more resources to protect data and limit system vulnerabilities.

Democratic Republic of the Congo has extremely large potential, but faces significant implementation challenges, which will limit the credit benefits.

Greater adoption of 3D printing technology will likely usher in major changes over time for certain industries, with implications for companies' profitability and market shares.

Advances in artificial intelligence will likely result in more pernicious disinformation campaigns targeting businesses and financial markets, with potential negative credit effects.

Gender diversity on North American corporate boards is correlated with higher ratings. But diversity mandates can create short-term credit risk by requiring significant board turnover for companies with few or no female directors.

Deconstruction of contingent liability risks for non-financial SOEs allows us to determine overall exposure. How liabilities are managed informs assessment on probability of crystallisation.

Higher female participation in the US labor force enhances the growth potential of the US economy. But gender gaps in workforce participation and pay in the US remain wider than in other advanced economies.

The green bond market hit a new all-time quarterly high in the second quarter of 2019 as issuers brought $66.6 billion to market, propelling first-half issuance to a record $117 billion.