We've been getting this take for well over a month, that credit conditions will (indeed now have) tighten(ed) due to the bank failures.

This, for example, from back in mid-March:

Anyway, Fitch (the ratings folks):

  • Says US. Leveraged loan concern list grows as lending tightens
  • Expects that stress in banking sector in US. will lead to further tightening of credit markets

Tighter credit is doing some of the Fed's inflation -fighting job, at the margin.

Fitch rating agency revises Australia's outlook to negative (was previoulsy 'stable'), affirms ratin