Credit markets face test from midterms, jobs data, and earnings

Société Générale warns that a crowded week of political and economic events threatens to disrupt a tentative recovery in global credit markets. The upcoming U.S. Midterm elections, October employment report, and a major wave of corporate earnings represent significant sources of uncertainty for investors.

Economists expect U.S. Nonfarm payrolls to increase by just 55,000 in October, with the unemployment rate remaining at 4.2%. The bank anticipates another U.S. Interest-rate increase by March 2027, while corporate earnings are expected to remain healthy despite higher borrowing costs.

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