Investec prefs

[OldBoyReturns]

Latest (swaps/futures) market-implied UK policy (base) rate curve (in brackets: the recent market-implied lows at year-end 2023). Goes to show how the market has repriced from an overly optimistic rate-cutting frenzy to a more orderly path.

Current: 5.25%
3mth: 5.21% (5.20%)
6mth: 4.96% (4.80%)
1y: 4.40% (3.74%)
2y: 3.84% (2.99%)
3y: 3.64% (2.85%)

Is there some public website from which this information can be got? I can find it for US but could not find it for UK.

There is a lot of useful info on the Chatham Financial site:

https://www.chathamfinancial.com/techno ... rket-rates

[BondSquared]

https://www.chathamfinancial.com/techno ... rket-rates

If you click on the tab "Forward Curves" then the "3 Mo. Compounded SONIA" graph is somewhat of a proxy for base rate expectations. Not perfect but gives you the right post code.

[OldBoyReturns]

Today's BoE MPC decision to hold base rate at 5.25% means the next INVR dividend (determination period 6 months to 31 March) will be 31.25p per share as base rate will have been at 5.25% for the entire 6 month period.

Next MPC meeting will be on 9 May so that guarantees at least another 39 days based on the current rate.

Also Investec released a positive trading statement yesterday:

https://www.londonstockexchange.com/new ... t/16385556

[Padders72]

Today's BoE MPC decision to hold base rate at 5.25% means the next INVR dividend (determination period 6 months to 31 March) will be 31.25p per share as base rate will have been at 5.25% for the entire 6 month period.

Next MPC meeting will be on 9 May so that guarantees at least another 39 days based on the current rate.

Also Investec released a positive trading statement yesterday:

https://www.londonstockexchange.com/new ... t/16385556

Good news certainly, and I note the price has held steady around 530p recently despite suggestions above it will tank.

One slight worry is that it was noted in the media recently that Investec have a presence in the UK car finance market, which is of course currently under investigation due to the dubious practice of discretionary commission. They are not one of the bigger players implicated (others include Lloyds, Close Brothers etc) but nevertheless have some exposure. I'll try to find a link, I think it was in the Times. It didn't suggest major exposure.