With the US election having a clear result and credit markets enjoying a strong run this year, charting the course forward is a challenge. Will a Trump regime slow down Fed cuts and will the ECB continue on its previous easing course, and what will this mean for credit? Will stubborn US yields cause more divergence in credit until 1H25? In this episode of our Credit Crunch podcast, host Mahesh Bhimalingam, chief European credit strategist at Bloomberg Intelligence and James Turner, Co-Head of EMEA fundamental fixed income at Blackrock, discuss the state of credit and gaps across the US and Europe. They tackle relative value across credit in different currencies; junk and high grade; fund flows and supply; defaults and ratings; fundamental and curve views. They also detail the impact of elections across the US, UK and Europe.