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Providing Market Insights to C-Suite Executives

Exemplifying MUFG’s commitment to clients as a trusted advisor, MUFG’s Capital Markets Strategy team provides C-suite executives (Board, CEO, CFO, Treasury) insights to anticipate, understand, and respond to important global market, economic and policy developments.

Unlike traditional Wall Street research, MUFG’s Capital Markets Strategy team maintains a dedicated focus on the needs of corporate clients, analyzing key themes that impact business strategy, funding and hedging.

Learn more

For more information, contact us.

Tom Joyce
Managing Director
tom.joyce@mufgsecurities.com

Hailey Orr
Managing Director
hailey.orr@mufgsecurities.com

Stephanie Kendal
Vice President
stephanie.kendal @mufgsecurities.com

Date Title Link
09/26/2023 Duration of U.S. Government Shutdowns Learn More
09/20/2023 Higher Friction Geopolitics Learn More
09/18/2023 $100 Oil Learn More
09/14/2023 Forthcoming Capex Supercycle Learn More
09/13/2023 Headline Inflation Higher on Energy Prices (Core Inflation’s Decline Firmly Intact) Learn More
09/12/2023 M&A Cycle Disconnecting from Rising Equities Learn More
09/08/2023 Negative Structural & Cyclical Feedback Loops Weigh Heavily on China's Growth Learn More
09/07/2023 New Normal for China Growth 5% Learn More
09/06/2023 Busiest IG Bond Volume Day in 2023 (5th Largest Ever) Learn More
09/05/2023 Business Cycle Status for G20 Economies Learn More
08/24/2023 BRICS Invite 6 New Members in Southern Expansion Learn More
08/22/2023 Shifts in U.S. Treasury Supply Learn More
08/21/2023 High Yield Spreads Pricing a Soft Landing Learn More
08/15/2023 Market Repricing Long Term U.S. Inflation Expectations Learn More
08/14/2023 At 23-Year Highs U.S. Mortgage Rates Rising with UST Yields Learn More
08/11/2023 Paradigm Shift in Source of U.S. Rate Volatility Learn More
08/10/2023 Moderating July Inflation Reinforces Expectations of Fed Pause in September Learn More
08/09/2023 Nine Countries with AAA Ratings Learn More
08/08/2023 Debt & Deficits Matter Learn More
08/07/2023 Global Government Bond Yields at Multi-Year Highs     Learn More
08/04/2023 Sahm Rule NOT Signaling Recession Learn More
08/03/2023 Global Manufacturing Recession Has Further to Run Learn More
08/01/2023 Less Rate Sensitive US Economy Learn More
07/26/2023 Who is Buying $1 Trillion of U.S. Treasuries Learn More
07/25/2023 Americas $20 Trillion Economy by State Learn More
07/19/2023 Leverage Loan Defaults Than High Yield Learn More
07/12/2023 U.S. Inflation Drops to 27 Month Low of 3% Learn More
07/11/2023 Attractive Entry Point for High Quality Credit Learn More
07/10/2023 Resilient U.S. Consumer & Economy Learn More
07/08/2023 Buyback Stocks Outperformed Dividends in 1H 2023 Learn More
07/07/2023 Strength Across Markets in the 1H 2023 Learn More
07/06/2023 Strong Corporate Balance Sheets with Divergence by Rating Learn More
07/05/2023 Real Rates More Firmly Positive Learn More
06/29/2023 Corporates Moving Opportunistically to Pre-Fund 2025 HY Maturity Wall Learn More
06/21/2023 USD High Yield Spreads Vulnerable to Widening in 2H 2023 Learn More
06/14/2023 IG & HY Credit Spreads Trading Below Multi-Decade Averages Learn More
06/13/2023 Headline US Inflation More than 50% Below June Peak Learn More
06/08/2023 Share Buybacks Hit Record $1.3 Trillion in 2022 Learn More
06/06/2023 Major Markets Sending “Mixed Signals” on the Economy Learn More
06/05/2023 Strength Across Markets in the 1H 2023 Learn More
06/01/2023 Earnings Recessions in the Absence of Economic Recessions Are Rare Learn More
05/15/2023 Treasury Cash Balances Depleting Rapidly Learn More
05/13/2023 The Exorbitant Privilege of Dollar Dominance Learn More
05/12/2023 Historical Perspective on the Debt Ceiling Learn More
05/11/2023 United States CDs at Significant Risk Premium Learn More
05/10/2023 Inflation Below 5% for First Time in 2 Years Learn More
05/09/2023 Demand for High Quality Fixed Income Remains Strong Learn More
05/03/2023 The Last Two Months Learn More
05/01/2023 Further Bank Sector Consolidation Anticipated Learn More
04/28/2023 Global Military Spending Reaches New $2.24 Trillion Recovery Learn More
04/27/2023 Global Recovery Unlikely to be Strong Learn More
04/24/2023 The Credit Cycle Has Begun to Turn Learn More
04/21/2023 The World's 20 Largest Banks Learn More
04/20/2023 Divergent Progress in Reducing Inflation Learn More
04/19/2023 Inflation's Impact on Corporate Margins Learn More
04/18/2023 Taking Advantage of Windows of Stability Learn More
04/17/2023 Bond Markets Still Offering Attractive Yields Learn More
04/13/2023 Approaching the End of the Cycle Learn More
04/12/2023 Core Inflation Headline for First Time in 2 Years (Services Remain Sticky) Learn More
04/03/2023 5th Largest IG Quarter on Record Learn More
03/31/2023 Women on Banknotes Remain Rare Learn More
03/29/2023 HY IG Spread Differential Signaling US Recession Learn More
03/22/2023 Financial Stability a Greater Concern than Inflation Learn More
03/21/2023 Financial and Bank Sector Conditions Tightening Learn More
03/20/2023 Sharp Drop In Treasury Liquidity Driving Global Market Volatility Learn More
03/15/2023 Did the Recession Start on Friday March 10th Learn More
03/14/2023 Balancing Financial Stability and Inflation Policy Objectives Learn More
03/13/2023 The Impact of Fed Tightening Has Just Begun Learn More
03/09/2023 Global Supply Chain Pressure Index Returns to Pre-COVID Average Learn More
03/08/2023 Hawkish on the Hill Learn More
03/06/2023 The World's Largest Legislative Body Consolidates Political & Economic Power Learn More
03/02/2023 Insufficiently Restrictive FED Funds Still Negative on Real Basis Learn More
03/01/2023 New Issue Markets Off to Strong Start Learn More
02/24/2023 Markets One Year After Russia's Feb 24 Invasion Learn More
02/23/2023 Lowest NYC Snowfall in 150 Years Learn More
02/20/2023 Counterintuitivity (European Gas Prices and Growth Rates) Learn More
02/15/2023 Retail Sales Rebound Sharply from Cool December Learn More
02/14/2023 Sticky & Non-Linear Learn More
02/09/2023 Labor Markets Provide Buffer for Recession Timing Learn More
02/08/2023 Consumer Debt to GDP Well Below GFC Levels Learn More
02/01/2023 Manufacturing Recession Already Upon Us Learn More

Policy Notes

Date Title Link
09/22/2023 Hawkish Fed Pause Drives U.S. Rates to 17 Year Highs Learn More
05/25/2023 Fitch Places United States' 'AAA' on "Rating Watch" Learn More
05/16/2023 Stakes Higher Markets More Sensitive Risk Lower Learn More
05/15/2023 Viable and Non-Viable Options for US Debt Ceiling Resolution Learn More
05/08/2023 Expectations from Washington on US Bank Sector Stress Learn More
04/06/2023 The BOJ's Changing of the Guard Learn More
03/13/2023 A Closer Look at Silicon Valley Bank Learn More
01/18/2023 Downside and Upside Risks for 2023 Learn More
01/17/2023 Summary Conclusions on the Fed and Inflation in 2023 Learn More
10/31/2022 Legislative and Policy Implications of the US Midterm Elections Learn More
10/20/2022 Services Inflation Remains the Primary Concern Learn More
8/15/2022 Breaking down the $740 bn Inflation Reduction Act & the $280 bn CHIPS and Science Act Learn more
6/3/2022 The EU's 6th Sanctions Package Learn More
5/13/2022 Looking “Under the Hood” (The Transition from COVID to Conflict Inflation) Learn more
5/11/2022 Detailed Inflation Breakdown by Category Learn more
5/5/2022 Record Supply Side Delays Continue Learn more
3/22/2022 SEC Issues Highly Anticipated Climate Disclosure Rule Proposal Learn more
3/7/2022 Investors Incorporating Russia into ESG Agenda Learn more
2/28/2022 Sanctioning the Central Bank of Russia (CBR) Learn more
2/26/2022 Why the West is Hesitant to Deny Russia Access to SWIFT, and How that May Change Learn more

1/27/2022

Labor Market Shortages Learn more
1/20/2022 The Implications of De-Globalization Learn more
1/14/2022 Key Risks to Watch in 2022 Learn more
12/30/2021 Remarkable 2021 Recovery Sets Backdrop for 2022 Learn more
11/30/2021 What to Watch with the Omicron Variant                                                                                                 Learn more
11/2/2021 Evolving Expectations for US Tax Code Change Learn more
9/28/21 President Biden Fed Appointments in the Weeks Ahead Learn more

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Speaking Requests

The Capital Markets Strategy team is available to speak at corporate client events, both in person and via video conference. Hundreds of such events in recent years include:

  • Corporate Board meetings
  • CEO Executive Committee presentations
  • Chief Financial Officer global finance team presentations
  • Global treasury and town hall meetings
  • Global leadership off-sites
  • Trade association meetings
  • Conferences
  • Corporate dinners
  • Private Equity partnership gatherings
  • Private Equity portfolio company meetings

To request an event, please contact the Capital Markets Strategy Team directly at CMGStrategy@mufgsecurities.com

 

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Team Bios

Tom Joyce Tom Joyce
Managing Director
Capital Markets Strategist
New York, NY
Tom.Joyce@mufgsecurities.com

Tom Joyce is a Managing Director and Capital Markets Strategist within MUFG’s global capital markets and investment banking business. Based in New York, Tom heads a team that creates customized analytical content for multi-national S&P 500 companies. His team provides in depth analysis on the impact of economic, political, public policy and regulatory dynamics on the US credit, foreign exchange, rates and commodities markets.

Tom has over 25 years of Investment Banking experience in New York, London, Hong Kong, and San Francisco. Over the last 15 years, Tom created and built the Capital Markets Strategy role, advising corporate C-Suite executives (Boards, CEOs, CFOs, and Treasurers) on the pervasive macro forces driving markets. Tom also presents at dozens of corporate events each year including Board meetings, CEO ExCo sessions, CFO and Treasury off-sites, corporate leadership events and conferences.

Tom’s educational background includes a year of study at Oxford University from 1991 - 1992, a Bachelor of Arts in Political Science from Holy Cross College in 1993, and a MBA from Kellogg Business School, Northwestern University in 2000.

Tom resides in New Canaan, CT with his wife and four sons, where he coaches youth basketball and serves on the Board of Trustees of the New Canaan Library, the Board of the New Canaan Football (Soccer) Club and the Holy Cross College President’s Council.

Hailey Orr Hailey Orr
Director
Capital Markets Strategist
New York, NY
Hailey.Orr@mufgsecurities.com

Hailey Orr is a Director in MUFG’s Capital Markets Strategy group within the global capital markets and investment banking business. The team provides market based content for corporate clients to assist in strategic decision making. Focus areas include the impact of economic, political, public policy and regulatory dynamics on the US credit, foreign exchange, rates and commodities markets.

Hailey has a decade of Wall Street experience, including three years as a Consumer Sector Specialist in Equity Sales and seven years as a Capital Markets Strategist. Hailey is also a member of MUFG’s Inclusion & Diversity Council and has devoted years to participating in and developing Wall Street recruiting programs.

Hailey graduated with honors from the University of Michigan’s Ross School of Business with a BBA and a minor in International Studies.

In March 2020, Crain’s New York Business Magazine named Hailey one of the “Rising Stars in Banking and Finance”.

Stephanie Kendal Stephanie Kendal
Associate
Capital Markets Strategist
New York, NY
Stephanie.Kendal@mufgsecurities.com

Stephanie Kendal is an associate in MUFG’s Capital Markets Strategy group within the global capital markets and investment banking business. The team provides market based content for corporate clients to assist in strategic decision making. Focus areas include the impact of economic, political, public policy and regulatory dynamics on the US credit, foreign exchange, rates and commodities markets.

Stephanie has spent over three years as a Capital Markets Strategist. At her prior firm, Stephanie was a part of the Americas Women’s Network Junior Council and was an active member of the University of Michigan recruiting team.

Stephanie graduated with honors from the University of Michigan’s Ross School of Business with a BBA .