Insights

Although it was a short trading week due to the Fourth of July holiday, there was no shortage of economic data and news. President Trump was able to garner support for the “One big, beautiful bill” and sign the tax and spending bill into law by his self-imposed July 4 deadline. He also continued...

Credit spreads shown are averages based on market rate conclusions for independent debt valuations conducted as of June 30, 2025. The market spread for an individual loan may vary based on property and loan characteristics, including, but not limited to, location, tenant profile, cash flow, and...

Chatham sets out its business plan assumptions for Q2 2025. Our latest market update highlights how Q2 market movements, inflation trends, and evolving rate expectations are shaping key business plan assumptions for social housing providers.

At the 2025 Chatham Financial Client Summit, more than 60 treasury and finance leaders gathered to explore the evolving landscape of economic uncertainty and its implications for capital markets and financial risk management. Held in June, the event featured candid dialogue, data-driven insights,...

Markets were inundated with economic data and news last week, giving investors plenty to consider. Tensions eased in the Middle East with the announcement of a ceasefire between Israel and Iran, although the situation remains fragile. Additionally, President Trump announced he is moving towards...

Markets face heightened uncertainty as the Federal Reserve holds rates steady amid internal divisions over future cuts, while geopolitical tensions escalate following the U.S. bombing of Iran’s nuclear infrastructure. Projecting fewer rate cuts in 2026 and 2027, Chair Powell reiterated that the...

The Bank of England (BoE) held Bank Rate steady at 4.25% on 19 June, aligning with expectations as the Bank takes a gradual approach to easing monetary policy. Three of the nine members of the Monetary Policy Committee (MPC) voted for a follow-up 25bps cut, a slightly more dovish vote than the...

On Wednesday, June 18, 2025, the Federal Open Market Committee (FOMC) decided to stay the course, holding Fed Funds at the current target range of 4.25-4.50% with a unanimous vote. Within the FOMC statement, the Fed noted that economic uncertainty has “diminished but remains elevated,” as it...

Investors welcomed the news of both CPI and PPI surprising to the downside. However, some of that optimism quickly abated as jobless claims ticked higher and tensions in the Middle East flared. Yields declined on the week, with the 10-year U.S. Treasury yield down 10 bps, closing at 4.41%....

It was a busy week, and while reports remain mixed with several pointing to a slowing economy, there are also reasons for optimism. The highly anticipated jobs report added to the optimism, at least on the surface. The labor market continues to appear resilient, with the unemployment rate holding...

There was plenty to digest this past week with the trend of mixed economic signals continuing. Consumer confidence jumped as the data is now starting to capture the May 12 announcement of a pause on some tariffs with China. Overall, markets reacted favorably on the week, with the S&P 500...

As the House passed its version of the tax bill and a renewed threat of tariffs on the EU emerged, markets responded unfavorably with the S&P 500 retreating -2.58%. The bond market caught investor attention as yields trended higher, with the 10-year Treasury closing the week at 4.52%

In this episode of Expert Conversations: Beyond, Reuben Daniels and Laura Grant explore the rare U-shaped yield curve, seen only 3% of the time in the past 50 years. What does this unusual shape suggest about the future of interest rates and the broader economy? How should financial leaders...

There were several economic data releases last week, and while they remain mixed, markets responded favorably. The S&P 500 posted a 5.33% return on the week with most of those gains following the ease of trade tensions between the U.S. and China. The 10-year yield finished the week 10 bps higher...

Although it was a relatively light week for economic reporting, it proved to be very busy. Investors focused keenly on the Fed, which left rates unchanged, in line with market expectations. Chair Powell noted an increase in uncertainty since the last policy meeting and reiterated his belief the...

In the world of fixed income, the shape of the yield curve always tells a story — and the current yield curve is showing something we rarely see — a U-shape. It’s a unique situation, and positioning for it can be critical for both issuers and investors.

The Bank of England (BoE) cut interest rates by 25 basis points today, citing concerns over Donald Trump’s tariff policies on economic growth. However, the bank’s Monetary Policy Committee (MPC) was unexpectedly split three-ways in its decision as it faces the more unpredictable...

On Wednesday, May 7, 2025, the Federal Open Market Committee (FOMC) voted unanimously to hold the fed funds rate at a target range of 4.25% - 4.50%. The FOMC statement mentioned an increase in uncertainty around the economic outlook since the last meeting. The Fed board believes its monetary...

A wave of economic data was released last week, giving investors plenty to ponder. Some data concerned investors, such as a negative GDP print, the continued slide in consumer confidence, and an uptick in jobless claims. However, several items boosted investor sentiment, with a PCE index in line...

Last week, the markets found glimpses of hope regarding tariff negotiations as the U.S. is reportedly discussing deals with a handful of trading partners, including China. Worries around Fed Chair Jerome Powell’s job security and independence of the Fed eased after President Trump assured the...

Last week, the markets digested President Trump’s confidence in securing trade deals, his lack of confidence in Fed Chair Jerome Powell, and a mixed bag of economic news. The S&P 500 finished the week down 1.49%, and the 10-year Treasury retreated about 16 bps, closing the week at 4.33%. While...

FX hedging costs vary across currency pairs. “Cost” from a certain direction of capital flow is in fact a “gain” in the opposite direction.

Last week was another roller-coaster week as markets tried to digest announcements surrounding U.S. trade policy. Cooler inflation reports failed to calm markets even though both CPI and PPI came in below expectations. The S&P 500 finished the week up 5.73% after posting a 9.52% single-day return...

FX volatility poses a growing challenge for treasury and financial teams in today's increasingly unpredictable global landscape. Geopolitical tensions, tariff turmoil, shifting central bank policies, and inflationary pressures are driving currency fluctuations across markets. These fluctuations...