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    Market Update

    FX volatility continues amidst a tepid economic recovery

    As summer ended, we saw several market and economic headlines that treasury teams should carefully monitor as their organizations plan for 2021. The euro and British pound continued to experience heightened volatility, while the VIX spiked and crude oil broke down following a pretty placid summer.

    Category
    Corporates
    Post Date
    Sep 14, 2020
  • High glass walls reflecting other buildings in financial district of London
    Article

    FAQ: GBP LIBOR transition to SONIA

    GBP LIBOR will transition to SONIA, likely by the end of 2021. Chatham's experts answer the most pressing questions asked by our clients about how the transition will affect them.

    Category
    Real Estate
    Post Date
    Sep 11, 2020
  • Low angle of the Bank of England facade
    Article

    FAQ: USD LIBOR transition to SOFR

    USD LIBOR will transition to SOFR, likely by the end of 2021. Chatham's experts answer the most pressing questions asked by our clients about how the transition will affect them.

    Category
    Real Estate
    Post Date
    Sep 11, 2020
  • Market Update

    Foreign exchange hedging – time to reassess?

    Approaching FX hedging can be complex, given the need to consider the interplay between global markets and the challenges of assessing both costs and benefits. This piece will address some misconceptions about the costs of FX hedging and provide insight for a reassessment of your FX hedging stance.

    Category
    Real Estate
    Post Date
    Sep 10, 2020
  • Guide

    Request your interest rate cap execution checklist

    Understanding the tactical steps involved in executing on an interest rate cap can help CRE investors plan and use their time efficiently prior to closing on a loan. Request your interest rate cap execution checklist here.

    Category
    Real Estate
  • market update thumbnail
    Market Update

    Equities pull back after weeks-long rally

    Despite the Nasdaq and S&P 500 setting all-time highs mid-week, the major U.S. equity indices ended the week lower, led by a sell-off in tech shares, ending a rally that persisted for nearly all of August.

    Post Date
    Sep 8, 2020
  • Guide

    2020 back-to-back swap program benchmark statistics: midyear edition

    Each year we publish a back-to-back swap benchmark report capturing the previous year’s activity that compares data across years, regions, and bank asset size. Given the unique circumstances of 2020, we are providing a midyear update. Request your copy to gain additional insight.

    Category
    Financial Institutions
    Post Date
    Sep 8, 2020
  • market update thumbnail
    Market Update

    Equities drop sharply off record highs

    Equity markets saw continued growth early in the week, with the Nasdaq and S&P 500 reaching all-time highs on September 2. However, Thursday saw a massive sell-off led by the tech industry, signaling that investors are growing wary of record stock valuations against weak macroeconomic fundamentals.

    Category
    Corporates
    Post Date
    Sep 8, 2020
  • Article

    How to use extend and blend interest rate swaps to optimize your hedging program

    Following the steep drop in USD interest rates, many swaps became significant liabilities. Companies can consider an extend-and-blend strategy, which reduces their swap rate to lower cash interest expense and extends hedge coverage by several years.

    Category
    Corporates
  • Market Update

    End of summer round-up and back-to-school Q4 outlook

    Over the past month, the impact of the global pandemic on the European economy is now evident in the reported GDP data. Reporting of severe contraction should be no surprise to anyone, but what matters now is how quickly we can recover.

    Category
    Real Estate
    Post Date
    Sep 7, 2020
  • market update thumbnail
    Market Update

    FOMC adopts new policy strategy

    The major U.S. equity indices moved higher on the week with the S&P 500 notching its fifth consecutive weekly gain amid positive COVID-19 vaccine developments and a host of encouraging economic data releases.

    Post Date
    Aug 31, 2020
  • Market Update

    The Federal Reserve adopts average inflation targeting

    The Fed has adopted a “flexible form of average inflation targeting” that aims for inflation rate to average 2% over time. Under this framework, the Fed funds rate will likely stay low for longer. Also, there will be an elevated emphasis on the maximum employment objective of the dual mandate.

    Category
    Real Estate
    Post Date
    Aug 31, 2020
  • market update thumbnail
    Market Update

    Farewell to the Fed’s Goldilocks approach to inflation targeting

    As we close out summer and brace for cooler weather, the Federal Reserve opened a new chapter on Thursday in its approach to monetary policy. They will shy away from the famed Goldilocks approach to managing inflation and articulated a new way of responding to economic challenges facing our economy.

    Category
    Corporates
    Post Date
    Aug 31, 2020
  • Bank of England pictured at a low angle against blue sky with clouds
    Article

    GBP LIBOR transition market brief — Q3 2020

    Chatham's update on the GBP LIBOR transition, summarizing upcoming deadlines, recent news, and available resources to help you stay current as the market transitions away from LIBOR.

    Category
    Real Estate
    Post Date
    Aug 28, 2020
  • webinar thumbnail
    Webinar

    Strategic Considerations for Cross-Currency Swaps

    Corporations use cross-currency swaps to align their capital structure and mitigate FX risk when financing foreign acquisitions, and to achieve lower effective interest rates. Using case studies, this webinar will cover the fundamentals of cross-currency swaps, including the benefits and challenges.

    Category
    Corporates
  • This is forward curve imagery
    Article

    Hedging future fixed-rate debt

    Many organizations are taking advantage of low long-term rates by locking in rates on future fixed-rate debt issuances. Companies pursuing this strategy should be prepared to navigate the complexities of trade structure, accounting, and market pricing for this approach.

    Category
    Corporates
  • Guide

    What is an FX forward curve?

    An FX forward curve is a curve that shows FX forward pricing for all the different dates in the future. FX forward pricing is determined by the current exchange rate, the interest rate differentials between the two currencies, and the length of the FX forward.

    Category
    Real Estate
  • market update thumbnail
    Market Update

    Jobless claims again surpass one million and Fed delays identifying targets

    Volatility is expected as the market reacts to initial jobless claims, consumer confidence numbers, and the Republican National Convention. While existing home sales beat expectations, jobless claims once again exceeded one million and the Fed pushed back the timing of its forward guidance targets.

    Category
    Corporates
    Post Date
    Aug 24, 2020
  • market update thumbnail
    Market Update

    S&P 500 sets new all-time high

    Encouraging economic data releases and falling COVID-19 case counts in the U.S. boosted investor sentiment amid stimulus bill uncertainty.

    Post Date
    Aug 24, 2020
  • View from the Bank of England's columns at a modern skyscraper
    Article

    SONIA monthly transaction activity — August 2020

    Each month, our team discusses the current state of GBP LIBOR and SONIA markets, exploring both the performance of the rates as well as the borrowing and hedging markets that surround them.

    Category
    Real Estate
    Post Date
    Aug 24, 2020
  • View over the top of Federal Hall in NYC
    Article

    SOFR monthly transaction activity — August 2020

    Each month, our team discusses the current state of USD LIBOR and SOFR markets, exploring both the performance of the rates as well as the borrowing and hedging markets that surround them.

    Category
    Real Estate
    Post Date
    Aug 24, 2020
  • webinar thumbnail
    Webinar

    Market Update: Strategies for Volatile Markets Q3 2020

    Our experts examine the factors driving the markets and discuss the balance sheet risk management strategies being implemented by financial institutions. We will share perspective on the interest rate risk management concerns by reviewing the challenges and opportunities in today’s volatile market.

    Category
    Financial Institutions
  • photo of urban buildings
    Article

    Managing foreign currency risk: Why some companies hedge more than others

    Chatham Financial’s benchmarking study assessed the risk management practices of U.S. corporations and found that, while FX risk was the second most common type of financial risk faced after interest rate risk, more companies choose to hedge and manage FX risk.

    Category
    Corporates
  • market update thumbnail
    Market Update

    Stocks shine and safe havens lose their luster

    A week that began with confidence that Congress would pass another round of fiscal stimulus provided a catalyst for investors to move from safe havens, like bonds and precious metals, into equities.

    Category
    Corporates
    Post Date
    Aug 17, 2020
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