Luis Arroyo is an Associate FX Trader in Mesirow Currency Management He is a member of the team responsible for the group’s execution and trading system efforts for the suite of institutional currency programs Luis has more than 6 years of foreign exchange experience Prior to joining Mesirow he worked for Vulcan LLC and Russell Investments Luis earned a Bachelor of Business Administration of…

Luis Trujillo is a Client Relationship Specialist in Mesirow Wealth Management He is responsible for day-to-day client service and communications as well as general administrative functions across multiple Wealth Management advisor teams Luis joined Mesirow in 2025 and has five years of experience in the financial services industry Prior to joining Mesirow he worked as a Client Service Associate…

Aging populations are a global phenomenon It is estimated that the global population of individuals over age 60 will grow from 12% to 22% by 2050 primarily as a result of increasing lifespans, 1, Every day 10000 American baby boomers reach their full retirement age of 65 and it is estimated that by 2030 all boomers will be age 65 or older, 2, The aging of the population is creating serious conversation around the topic of retirement as individuals try to figure out if and how they would like to transition from their primary careers into a retirement period that may be much longer and different than those experienced by prior generations The decision to retire has become more complex as a result of the elimination of guaranteed pension…, Step 1 Develop your financial self-efficacy, Financial self-efficacy is the belief that you can achieve and succeed financially Although you may have the financial resources to retire a lack of confidence regarding your ability to financially succeed in retirement can lead to anxiety that may limit your fun and enjoyment during this exciting stage of life Research studies show that financial planning plays a key role in developing financial…, Step 2 Develop your retirement identity, We spend our early and middle age years developing skillsets and building our work identities Working Americans spend more time engaged in their careers than any other activity Over time our personal and professional identities become tightly woven together Your community frequently knows you as a physician accountant teacher or employee at a certain company The immediate disconnection of work…, Step 3 Further expand your social network, Work has several non-financial benefits such as socialization At the end of a 25+ year career it is common to have a meaningful part of your social interactions come through work affiliations When you retire your friends and colleagues may not be as accessible due to their own career demands Prior to retirement it may be helpful to develop social relationships that will provide you with…, Conclusion, In conclusion the decision to retire involves a myriad of life style changes challenges and opportunities Comprehensive financial planning the ability to define your “new self” outside of a work environment and the ability to develop new social relationships will all impact your successful transition from your career to your new adventure in retirement Your Mesirow Wealth Advisor can help you…, Published January 2025, 1 https//wwwwhoint/news-room/fact-sheets/detail/ageing-and-health#~text=In%202020%2C%20the%20number%20offrom%2012%25%20to%2022%25 2 https//wwwcensusgov/library/stories/2019/12/by-2030-all-baby-boomers-will-be-age-65-or-olderhtml

Malina Murray joined the firm in 2022 and is currently an Investment Management Analyst in the direct real estate investment business Malina supports asset management and will provide portfolio analytics support  Malina received her Bachelor of Science in Business Administration from Florida A&M University Prior to joining the direct real estate group Malina was an Investment Management…

There are few topics in currency risk management that are more polarizing than the most basic question should currency risk be hedged Much less controversy exists about the need to hedge emerging market currencies Many analysts and investors believe that hedging emerging market currencies is unnecessary They offer various reasons currency return is zero over the long term the cost of carry is too…

Listing the risks in a bond issue is a relatively straightforward task since every prospectus includes an extensive compilation of disclosures However it is crucial to differentiate between risks that can be reasonably estimated and priced and those that due to their inherent nature are extremely challenging to quantify Certain industries are particularly susceptible to “tail risks” which can…

October 1 2025, Hedging and speculation with currency futures - understanding the basics , Why currency futures matter Since September 2024 the US dollar’s value has followed a wild and bumpy path reaching a peak in January 2025 on post-election optimism surrounding tax reform and deregulation but then declining roughly 12% by early July (Figure 1  In fact a drop this dramatic for the first half of the year hadn’t been seen since 1973 (when the US was in the midst of the Watergate…, Exchange, Trading hours (local hours, CME Sunday 500 pm – Friday 400 PM CT daily break 400–500 pm ICE Sunday 800 pm – Friday 5 pm ET Eurex Typically 8 am – 10 pm CET SGX Hours can change slightly for different currency pairs  US dollar/Chinese yuan 725 am – 555 pm SGT  evening session 615 pm to 515 am SGT Source Exchanges The exchanges offer trading platforms but traders may also access futures markets through platforms such as…, Characteristic, Futures, Forwards, Counterparty risk Low (exchange-backed collateral High (some mitigation mechanisms Trade amount Standard contract sizes Custom amounts Trading venue Exchange Over the counter - no physical location Delivery date Standard Negotiated Collateral Always required Sometimes required Settlement Daily collateral adjustments On value date Delivery Usually cash settled Physical currency exchange Source…, F = S * (1+ ibc / (1+iqc, where F is the futures price S is the spot rate ibc is the base currency interest rate and iqc is the quote currency interest rate  See this spot and forwards article for more information about base and quote currencies and an example using values in the CIRP equation Most currency futures are cash settled If you don’t want to take delivery (like a truckload of wheat you simply close out the…, Speculation risk, | Leveraged losses can trigger a margin call a demand by the futures exchange to post more collateral , Event risk, | Geopolitical shocks such as the Russian invasion of Ukraine or economic data releases can make currency exchange rates exceptionally volatile, Basis risk, | A futures price that doesn’t perfectly converge with the spot price at the future’s expiration can lead to a discrepancy between the expected hedging outcome and the actual result, Counterparty risk, | Significant in the OTC forwards market this is a minimal risk in futures because the exchange acts as a central counterparty to all trades effectively guaranteeing the terms of the contract, Liquidity risk, | The difficulty of entering or leaving a position because of an inadequate number of buyers or sellers can be a problem with low-demand currency pairs Low trading volumes can lead to slippage the difference between the expected price and the actual price  Currency futures can be a valuable tool for managing currency exposure and expressing market views However prudent risk management is…, Explore more currency insights, Monetary futures Stablecoins leap ahead of CBDCs, China India and the EU press on with CBDCs but the US bets big on private crypto innovation READ ARTICLE, Stablecoins prepare to enter mainstream payments, President signs legislation to regulate payment stablecoins but how stable are they READ ARTICLE