US Credit Market Update – July 2025

Resilience Drives Growth, Confidence Fuels Deals

The U.S. economy is powering ahead in 2025 — growth is climbing, consumers are spending, and credit markets remain confident.

Economic Momentum:

  • Q2 GDP up 3.0%, led by consumer demand and stronger business investment.
  • Services and discretionary sectors remain standouts.

Jobs & Consumers:

  • Unemployment steady near low-4%.
  • Wages stable, inflation contained.
  • Household finances strong, debt levels manageable.

Credit & Corporates:

  • Profit margins elevated, loan delinquencies just 2.8%.
  • Banks and private credit channels flush with liquidity.
  • Investment-grade yields softening, high-yield spreads still tight.

M&A Stays Bold:

  • Fewer deals, but bigger ones — mega-deals ($10B+) dominate.
  • Key focus areas: AI, healthcare, infrastructure.
  • Financing backing strategic expansions remains plentiful.

Outlook:
With liquidity strong, inflation calm, and the Fed hinting at cuts, conditions are set for continued expansion. Risks linger, but momentum is firmly on the economy’s side.

Bottom Line:
Strong growth, strong credit, strong opportunities — 2025 keeps delivering.

👉 Read our latest U.S. Credit Report for full insights and updates.

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Credit Market Update – October 2025

U.S. growth stayed firm in Q3 2025 with GDP up 3.8%, inflation easing to 3.0%, and the Fed cutting rates to 4.1%. Jobs and credit remain strong, while liquidity and capital buffers support steady expansion. Outlook into year-end stays constructive with balanced growth and measured risk-taking.

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Meet Mitch Vermet,

CFA, CAIA
Managing Director
Our other Managing Director, Mitch Vermet, CFA, CAIA, has a decade of experience in institutional asset management and investment banking. He has served as an integral asset within close-knit investment teams responsible for building portfolios and allocating tactical assets for over $30 billion in institutional capital.
Since earning a BA in Economics from the University of Michigan and an MA in Management from the Ross School of Business at the University of Michigan, Mr. Vermet has demonstrated mastery in helping clients manage and structure their balance sheets with strategic asset liability management solutions. He has built a reputation for helping clients strategically manage risk while capitalizing on opportunities across unique macroeconomic scenarios, lending valuable expertise and foresight to clients.  

Mr. Vermet is a member of the CFA Institute and CAIA Association. He is also a Registered Representative of BA Securities, LLC, and a member of FINRA and SIPC.

Meet Richard Consul,

CFA
Managing Director
Richard Consul, CFA, brings unmatched expertise and experience as one of our Managing Directors. Mr. Consul has over 20 years of domestic and international secondary market expertise as a Senior Portfolio Manager and Fixed Income, Currency, and Commodities Strategist.
Since earning a BBA in Finance and an MSE in Financial Engineering from the University of Michigan, Mr. Consul has served as a dedicated business partner to many corporate, banking, and insurance clients. He has built a reputation for helping clients solve and overcome various complex liquidity, risk management, ALM, and secondary market challenges. 
Mr. Consul has lent his expertise to countless financial publications and platforms, including Asset TV, a renowned video research platform for investment professionals. He is a member of the CFA Institute and has received certifications in Securities Industry Essentials (SIE), Series 82, and Series 63 through FINRA.