Expectations for Rising Defaults and Wider Credit Spreads Ease in Latest IACPM Survey But Remain High; Respondents Say Inflation and Interest Rates Will Take Longer Than Expected to Decline

New York, NY – Many survey participants in the newest IACPM Credit Out- look Survey believe the euphoria seen in global financial markets the last two months of 2023 was overdone. Instead, respondents note, while credit conditions look better today, the fight against inflation will probably take longer than expected and that, in turn, will likely mean interest rates will remain higher for longer.