Via Fitch today:
Economic fallout due to the coronavirus pandemic is the greatest risk for Australian credit markets over the next 12 months, according to 74% of Australian fixed-income investors that took part in the 2020 Fitch Ratings/KangaNews Australian fixed-income investor survey. A hard landing in China and a domestic housing market downturn were nominated as the next two highest risks, but both can be considered direct consequences of the pandemic’s negative impact on global economies.
Survey responses were gathered in early-to mid-March 2020, a period marked by the early onset of the pandemic in Australia, where events were unfolding rapidly. It also preceded a number of the strict government-initiated social distancing measures and sizeable economic assistance packages. Like many, our respondents were grappling with developments, but the results paint a meaningful and clear picture of serious concern for the economic outlook.