Insights

Markets remained steady amid a variety of economic data releases last week. With unemployment and inflation inching towards the Federal Reserve’s mandated benchmark rates, the focus turns to both the U.S. election on Tuesday and the Federal Open Market Committee (FOMC) meeting on Wednesday.

Join our expert panel as we explore the key priorities and trends shaping the capital markets. We’ll discuss the evolving financial markets landscape and the potential impact on 2025 strategies. With an interactive Q&A format, you’ll gain a variety of perspectives into the critical factors...

The Autumn Budget's £40 billion in tax hikes, gilt yield fluctuations, Bank of England rate cut expectations, and more in today's fortnightly.

Last week was relatively muted in markets as a quiet economic calendar delivered mixed results and Fed speakers did little to dissuade current market expectations. Rates continued to move slightly higher as the market continues to coalesce around a slower pace of rate reductions.

The European Central Bank (ECB) cut their deposit rate on Thursday, while U.S. data releases reflected a strengthening consumer in the month of September. Fedspeak from Federal Open Market Committee (FOMC) governors throughout the week hinted at future rate cuts come their meeting November 7.

Inflation is cooling more slowly than expected, weighing on the minds of Fed policymakers, while ongoing natural disasters continue to impact local communities and the U.S. economic environment.

Recent economic indicators point to a stronger-than-expected performance, with improvements in employment and consumer confidence. Markets seem more positive about the economic outlook given labor market resilience and stable inflation numbers. The Federal Reserve remains watchful but is expected...

Chatham sets out its business plan assumptions for Q3 2024.

The Fed dot plot is a visual representation of the projections made by each member of the Federal Reserve regarding the Central Bank's key short-term interest rate.

In a week marked largely by the U.S. economy’s continued reaction to the 50-basis-point cut issued by the Federal Reserve on September 18, equities continued to surge following positive economic indicators, and key inflationary data came in lower than expected.

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...

Join Jackie Bowie and Amol Dhargalkar for Chatham’s upcoming webinar, where they will discuss the unprecedented shifts in capital markets during 2024 and look ahead to the macroeconomic drivers for 2025. Discover how investors are mitigating risk and preparing for investment opportunities arising...

The Federal Open Market Committee (FOMC) surprised markets by enacting a more aggressive rate cut at its meeting last week. Equities and oil rallied in response, while the U.S. dollar held steady.

The Bank of England (BoE) kept rates on hold at 5.00% and expressed caution about cutting rates again too soon. Despite expectations, only one member voted for a further rate cut, while eight voted to maintain rates. Deputy Governor Dave Ramsden, expected to support a rate cut, remained in favor...

On Wednesday, September 18, 2024, the Federal Open Market Committee (FOMC) voted to reduce the fed funds rate to a target range of 4.75%–5.00%, marking the first rate cut in over four years. While the reduction in rates was widely expected, the magnitude of 50 basis points comes to the surprise...

Chatham expects an increase in housing association capital markets issuance through the end of 2024 and the beginning of 2025, as smaller issuers may benefit from tighter pricing and lighter covenants in the public market despite current trends favoring larger bond issues.

The European Central Bank (ECB) cut rates for a second time in its past three meetings, while the Bureau of Labor Statistics released both the CPI and PPI. With inflation data posting a two-year low, signs continue to point towards a likely rate cut at the Fed’s meeting this Wednesday.

Last week, July job openings and August nonfarm payrolls added to the consistent narrative that the U.S. economy is returning to pre-pandemic normalization. As a result, the market is predicting that the Federal Funds rate will return to pre-pandemic levels in relatively short order beginning in...

The Fed’s preferred measure of inflation, PCE, was released this past Friday. The measure echoed sentiment following last month’s Jackson Hole Symposium that the Fed made real progress in the fight against inflation.

Federal Reserve Chair, Jerome Powell, confirmed market sentiment that the economy is moving in the right direction regarding inflation. Although he remained uncommitted to decision specifics, something that has been a staple of Powell’s tenure, he did mention, “The direction of travel is clear,...

Today, Federal Reserve Chair Jerome Powell spoke at the Kansas City Fed’s annual economic symposium in Jackson Hole, Wyoming. In his speech, Powell stated that it is now time for the Federal Open Market Committee (FOMC) to adjust their focus from fighting inflation pressures in the United States...

Economic data released this week shows a positive outlook on the state of the U.S. economy, strengthening the sentiment that Fed rate cuts next month are more certain than ever.

All signs pointed towards a weakening consumer last Monday as markets dipped following both domestic and foreign economic reports released the week prior. Since then, both equity and bond markets rebounded, but the probability of a September rate cut remains high.

The Bank of England's (BoE) rate cut, lower sterling rates, transactions from LiveWest and Eastlight Community Homes, and more in today's fortnightly.