Barclays
May 20, 2026
Americas Morning Research Summary
Market ReportEquitiesMacro Economic IndicatorsRates CreditFinancialsHealth Care
A daily research digest from Barclays summarizing rating changes, earnings reports, and industry deep dives across the Americas, with a focus on Healthcare, Banks, and Retail.
Key Takeaways
- 1.U.S. Large-Cap Bank credit quality is exceptionally strong, with net charge-offs (NCOs) hitting a 2.5-year low of 0.57% while loan growth is accelerating.
- 2.Offshore drilling fundamentals (deepwater rigs) currently appear stronger than the 2022-2023 period, driven by dayrate increases and improved market setup.
- 3.Retail results from Amer Sports and CAVA Group suggest resilient consumer execution with beats on earnings, margins, and guidance raises.
Table of Contents
- Summary of Changes
- Company Research
- Industry Research
- Publications Summary
- Consumer
- Energy
- Financial Services
- Healthcare
- Industrials
- Internet & Media
- Power & Utilities
- Retail
- Technology
- Derivatives
- Analyst(s) Certification(s)
- Important Disclosures
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Authors
Seth SigmanEddie KimJason M. Goldberg
Securities
HDCAVAASSRLAY
Themes
Resilient Consumer CreditAI Commercialization and Concerns
Regions
North AmericaAsia PacificEuropeUnited StatesChinaGermany