Post the Pandemic

Sterling market trends, shifting sentiment, an economic update, and more in today's fortnightly.

EMTN (European Medium Term Note) programme issuance, base rate rises, economic update, and more in today's fortnightly.

The European Central Bank (ECB) increased its main deposit rate by 25 basis points to 3.25%, but signaled that it would slow down the pace of its monetary policy tightening in light of weak economic growth and banks tightening credit access. The Bank of England (BoE) similarly increased its base...

On Wednesday, May 3, 2023, the Federal Open Market Committee (FOMC) voted unanimously to raise the fed funds rate by 25 basis points to a target range of 5.00% - 5.25%. The FOMC noted that ongoing economic developments will determine if additional hikes are necessary.

Bond issuance, bank market update, and more in today's fortnightly.

Term SOFR is an index rate frequently used in floating-rate loans and notes. It is published by the Chicago Mercantile Exchange (CME Group) in tenors of one, three, six, and 12 months and reflects market expectations for spot SOFR (an overnight rate) for that given tenor. This piece examines...

CAD and USD have been among the most volatile global currency pairs in recent weeks.

Term SOFR has emerged among non-Agency commercial real estate (CRE) lenders as the primary SOFR-based index of choice for their floating-rate loans. It is the NY Fed ARRC recommended fallback for non-agency CRE loans and the fallback under the LIBOR Act where the LIBOR Act applies. Regulatory...