Market snapshot municipal bonds, Our Capital Markets Comments from January of this year focused on the effect of relentlessly positive cash flows (45 weeks into the Municipal market and the technical risks that the overbought market had created for both institutional and individual investors We recommended maintaining a “low risk” investment profile The investor cash flow driven mix of (absolute low yields and exceptionally…

Mike Leventakos is Senior Vice President Finance of Mesirow Alternative Credit  Prior to joining Mesirow Mike served as Director of Finance & Accounting at Bastion Management where he was responsible for overseeing all accounting tax and treasury functions of the Firm Bastion joined Mesirow in December 2024 Before Bastion Mike served as Controller at SSARIS Advisors LLC Prior to SSARIS Mike…

Mary Jo Hayes is a Managing Director and Mesirow Chief Compliance Officer In this capacity she provides ongoing compliance guidance and support to the firm’s Investment Advisory Investment Management Capital Markets and Investment Banking groups She is responsible for overall Mesirow compliance with applicable regulatory organizations such as the Financial Industry Regulatory Authority US…

China India and the EU press on with CBDCs but the US bets big on private crypto innovation, CBDCs Central bank digital currencies – a virtual version of a nation’s currency issued by its central bank – took the early lead in the race to be the primary form of digital money But enthusiasm for CBDCs has waned handicapped by public and business resistance   Stablecoins cryptocurrencies whose values are pegged to another asset have vaulted into the lead supercharged by the United States’…, Bahamian dollars B$, Sand Dollar launch October 2020, Date, Sand Dollar B$, Total Currency B$, Sand Dollar as % of Total Currency $B, 4Q2020 75000 546545000 001% 4Q2021 304000 556997000 005% 4Q2022 1052000 600728000 018% 4Q2023 1692000 608844000 028% June 2024 2378000 591057000 040% Source Central Bank of The Bahamas Table 2 CURRENCIES IN CIRCULATION – NIGERIA, Nigerian Naira ₦, ENaira launch October 2021, Date, eNaira ₦ billion, Total Currency ₦ billion, eNaira as % of Total Currency, 4Q2021 07008 3330 002% 4Q2022 66026 3010 022% 4Q2023 125045 3640 034% 4Q2024 1852 5440 034% Sources Tekediacom Tradingeconomicscom Table 3 CURRENCIES IN CIRCULATION – JAMAICA, Jamaican dollar J$, JAM-DEX launch July 2022, Date, JAM-DEX J$ billion, Total Currency J$ billion, JAM-DEX as % of Total Currency, 4Q2022 0046 2388 002% 4Q2023 0257 2796 009% 4Q2024 0258 2861 009% Sources Jamaica Information Service RJR News Jamaica Observer What’s wrong with CBDCs , The old ways of doing business are better, While each country has specific reasons for low CBDC usage some problems are common lack of clear benefits failure to integrate with existing bank and payment systems and merchant resistance to accepting CBDC payments Privacy – government surveillance of spending and dictates as to how the digital currency can be spent – worry everyone The aversion to CBDCs for these early adopters hasn’t…, Explore more currency insights, Spot and forward rates – what they mean and why they matter, Knowing how these rates work when they’re appropriate and their typical uses can lead to smarter financial decisions for importers travelers or investors READ ARTICLE, Are we too dependent on this FX benchmark, FX benchmark prices are critical for global commerce investments and trading but is there a hidden risk in your favorite FX rate READ ARTICLE

Muj Ali is a Senior Managing Director on Mesirows Capital Formation and Currency Solutions team and is based in Hong Kong He leads the team responsible for marketing and distribution of all of Mesirow investment capabilities to institutional investors and investment consultants across the Asia Pacific region Preceding this role Muj was Head of the Asia Pacific Client Relationship Team for Mesirow…

Nancy Zehr is a Senior Client Relationship Specialist in Mesirow Wealth Management She is responsible for day-to-day client service and communications including client portfolio analysis trade requests account processing and documentation Nancy’s ability to communicate with clients in a clear and thoughtful manner has created strong trusted client relationships  Nancy has more than 30 years of…