Post the Pandemic
Chief U.K. Economist
SummaryPlease join Chatham's Social Housing team for this webinar covering the following...
- Economic backdrop
- Increasing gilt rates and impact on funding, including ESG influence
- Key changes and influences on housing association business models in 2021
About the speakers
Chief U.K. Economist
This material has been created by Chatham Financial Europe, Ltd. and is intended for a non-U.S. audience. Chatham Financial Europe, Ltd. is authorised and regulated by the Financial Conduct Authority of the United Kingdom with reference number 197251.
Our featured insights
Thought leadership for housing associations: The increasing importance of credit ratings
While investors have always attached some significance to credit ratings for housing associations (HAs), other factors have played a more important role: the size and business model of the borrower, geographic focus, strong investor relations, and good new issue management. As a result, A3/A-...
Request your Q4 2022 Lending Market Overview
The purpose of this report is to present changes in lending markets across key property types for use in marking debt to market for financial reporting. The Chatham fixed- and floating-rate indices for each property type represent how coupon rates and spreads have changed. For the fourth quarter...
Q4 2022 Business Plan Assumptions
Chatham’s social housing team set out below its Q4 2022 business plan assumptions for housing associations and an accompanying economic commentary. Following a tumultuous third quarter in the Sterling markets, a new government and reverse of the “mini” budget induced a much-needed calm after the...
FX forward rates and hedging costs
FX hedging costs vary across currency pairs. “Cost” from a certain direction of capital flow is in fact a “gain” in the opposite direction.
The hairy chart: Historical accuracy of LIBOR forward curves
These hairy chart graphs plot past LIBOR forward curves against the actual path LIBOR followed, showing that the forward curve has been a somewhat accurate predictor over the next six months or so...
Request your Q4 2022 Average Market Credit Spreads report
Credit spreads shown are averages based on market rate conclusions for independent debt valuations conducted as of December 31, 2022. 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,...
The ECB holds firm while the BoE wavers
On 15 December, the European Central Bank (ECB) voted for a further 0.5% interest rate increase as the central bank continues its policy of monetary tightening in the face of high inflation. The bank slightly slowed the pace of increases (from 0.75% previously) as signs of a softening inflation...
A downshift in hikes but more to come in 2023
On Wednesday, December 14, the Federal Open Market Committee (FOMC) voted unanimously to raise the federal funds target range by 50 basis points to 4.25–4.50%. This rate hike is guided by their long-term dual mandate of price stability while simultaneously ensuring maximum employment. The Fed is...