Global rate cycle has turned, but central banks to stay cautious
Strong revenue growth helps overcome rising credit provisions
Forthcoming mortgage resets will continue driving debt service costs higher in certain markets
Wages, housing costs stoking price pressures in services
Robust job market is keeping delinquencies low for now
Protectionism has negative implications for output, employment and inflation
Sovereign ratings drive bulk of positive rating action
A rebound in investment banking represents a ray of hope for sector
Short-term strength overshadowed by rising rate uncertainty
Downgrades outnumber upgrades, led by weakness in corporate junk