Credit Suisse Hosts Credit Client Conference: Investor Sentiment Cautious Going Into Year End

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Oct 10, 2012, 01:23 ET

NEW YORK, Oct. 10, 2012 /PRNewswire/ -- On October 3 – 5, Credit Suisse hosted the 2012 Global Credit Conference in Miami, Florida and found that overall, investor sentiment seemed cautious going into the end of the year.

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In a new survey conducted by the Credit Strategy team at the conference, which was attended by around 650 issuers and investors, 48% of investors identified the Fiscal Cliff as their biggest macro concern for Q4 2012. 21% said corporate earnings were the biggest concern, while only 7% responded with the regulatory environment and 5% with China.

The conference brought together experts to discuss the future of the industry and debate issues including the regulatory environment and ongoing uncertainty in Europe. Keynote speakers included: Credit Suisse CEO Brady Dougan, The Rt Hon Sir John Major KG CH and The Honorable Paul A. Volcker.

Phil DeSantis, Co-Head of Global Credit Products, said, "This conference underscores our ongoing commitment to clients and leverages thought-leaders from across the Bank in an effort to help clients navigate today's challenging environment."

Eraj Shirvani, Co-Head of Global Credit Products, added, "We are very proud of our client franchise and are dedicated to remaining integral to clients, independent of market environment."

In addition, the survey found that 46% of investors had strong outlooks for Q4 HY cash return, with returns of +1 to +3 %, while only 24% had strong outlooks for 2013 HY cash return, defining strong as returns of +6 to +8%. For the 2013 HY cash return outlook, almost half of respondents expected returns of +4 to +6% and 22% of investors responded that returns would be weak (between +2 - +4%.) When asked what the largest impact on the secondary markets will be in the next 12 months, half of the respondents identified that dealer inventory will have the largest impact, while 22% said ETFs. In addition, 60% of investors cited a lack of US growth as their biggest concern regarding QE3, while no investors reported that liquidity was a concern about QE3.

The conference included the following panel discussions on noteworthy industry topics, among others:

European Credit: Banks, Insurers, Peripheral, Corporates
Credit ETFs: Growth, Impact and Outlook
US Credit Strategy Panel
Emerging Market Corporates: Market Trends and best Ideas
US Distressed Loan Panel
Market Structure: The Evolving Landscape

Credit Suisse AG

Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 48,200 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

Investment Banking

In its Investment Banking business, Credit Suisse offers securities products and financial advisory services to users and suppliers of capital around the world. Operating in 57 locations across 30 countries, Credit Suisse is active across the full spectrum of financial services products including debt and equity underwriting, sales and trading, mergers and acquisitions, investment research, and correspondent and prime brokerage services.

SOURCE Credit Suisse AG