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As we start the new year, treasury teams are navigating an uncertain geopolitical environment, global unrest, and the accelerating pace of technological change. Each of these factors presents both challenges and opportunities for corporate treasury teams. Treasurers looking to manage risks and capitalize on those opportunities in 2025 should seek to understand how the following trends will affect the capital markets.

1. New players make debt markets more competitive. In a poll that Chatham Financial conducted during a September 2024 capital markets webcast, only 15 percent of capital market participants indicated that they expect to face a higher cost of capital over the next 12 months. This suggests a widespread expectation that capital costs will remain stable and financing will be easier to access in 2025.

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Amol Dhargalkar

Amol Dhargalkar is a managing partner and chairman of Chatham Financial’s board of directors. He has more than 20 years of derivatives capital markets expertise.

Analysis