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Member News
Member News
02
May
By Rachel Szymanski, Chief Economist, Trepp
Significant back-and-forth on tariffs has led to unprecedented trade policy uncertainty and large swings in asset prices. While there is now a 90-day pause on some tariffs, others remain in place. This reprieve offers some relief, but the uncertainty itself has substantial effects on behavior, where market participants may delay economic decisions and take risk mitigation measures.
This blog outlines the ripple effects of uncertainty throughout the economy and the implications for commercial real estate...
02
May
Sixteen EU countries trigger ‘escape clause’ for defence spending
On Wednesday, 30 April, sixteen European Union member states announced their intention to use the ‘national escape clause’ – a special budget flexibility rule- to ramp up defence spending prompted by Russia’s ongoing war in Ukraine and the heightened security threat across Europe, these countries are seeking permission to invest more in their military capabilities without immediately breaching the EU’s strict fiscal guidelines.
On the same day, the European Commission announced that it had already received formal...
02
May
The combined offering will pair VectorNav’s Inertial Navigation Systems with NAL Research’s Iridium STL® satellite receivers, leveraging signals 1,000 times stronger than GPS.
MANASSAS, VA and DALLAS, TX – April 30, 2025 – NAL Research and VectorNav Technologies, two U.S.-based leaders in assured position, navigation, and timing (APNT) solutions, announced today a joint development to produce Iridium® STL (Satellite Time & Location)-aided Inertial Navigation Systems (INS) designed to meet the increasing demand for resilient PNT in GNSS-denied environments. Both companies will...
02
May
Eversheds Sutherland (International) is pleased to confirm that Keith Froud has now succeeded Lee Ranson as the firm’s Global Co-CEO and International Chief Executive. Keith’s election in September 2024 was uncontested and he begins his four year term today, 1 May 2025.
Keith Froud comments, “I am proud to have succeeded Lee Ranson as Chief Executive of Eversheds Sutherland (International) today. Building on the firm’s strong trajectory, my ambition is to create even greater success for our clients and our people. I am also pleased...
01
May
By Fabio Balboni, Senior Economist, Eurozone, and Janet Henry, Global Chief Economist, HSBC
The word “uncertainty” does not do justice to the current global economic outlook. We knew 2025 was going to be an unpredictable year, but the pace of US policy shifts since the ‘Liberation Day’ announcements has been dramatic. The reciprocal tariff unveiling, associated financial market turmoil, the US administration’s rapid U-turn, and a doubling down on mainland China tariffs have already impacted perceptions and expectations in ways...
01
May
By Simon Grant, Karen Dawson, Adam Taylor, Serge Dupont and Jess Horwitz
Canada Development Investment Corp. (CDEV) has announced the launch of the Large Enterprise Tariff Loan (LETL) facility, a new government-backed loan facility to support large Canadian enterprises affected by actual and potential new US tariffs and associated Canadian import countermeasures and which face challenges accessing traditional sources of market financing.
CDEV, a Canadian federal Crown corporation reporting to the Minister of Finance, will manage the facility through its subsidiary,...
01
May
House Members Focus Their Attention on Federal Tax Credits for Pending Budget Reconciliation Process
As the U.S. Congress gears up for the budget reconciliation process, several Republican and Democratic members of the House of Representatives have urged House leadership to maintain certain key federal energy tax credits authorized by the Inflation Reduction Act of 2022 (IRA).
On March 9, 2025, in a letter to Representative Jason Smith (R-MO), chair of the House Ways and Means Committee, 21 Republican House members requested...
30
Apr
By John Czapla, Chairman of the Board, Valuation Research Corporation
An unpredictable and rapidly unfolding event has disrupted the global financial markets, coinciding with the end of the first quarter valuation processes for private debt funds. Private credit market valuation professionals are grappling with the fallout from the ongoing trade war may feel a sense of déjà vu, as they’ve navigated similar challenges in the very recent past.
The playbook for assessing fair value for private securities, developed during the onset of...
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