The TwentyFour Blog
Helping investors navigate fixed income markets through timely insights and expert analysis from TwentyFour’s investment team.
Flash Fixed Income: Guilty by association?
When government finances deteriorate, how much of that risk should be priced into the borrowing costs of otherwise healthy businesses?
Insights
Flash Fixed Income: Guilty by association?
When government finances deteriorate, how much of that risk should be priced into the borrowing costs of otherwise healthy businesses?
No one is buying OATs. Will the ECB?
French government bonds (OATs) keep on breaking records and psychological barriers, with the latest being 10-year yields smashing through 5% for the first time since 2002 this week.
Are smaller AT1s still offering sufficient premium?
This week a small Austrian lender, KommunalKredit, brought to the market a €150m Additional Tier 1 (AT1) transaction.
High yield pricing and covenants test investor demand
September’s surge in high yield (HY) issuance tested the limits of investor appetite in an evolving market.
ABS: Why it can pay to stay floating
It has been another strong year for European asset-backed securities (ABS), and securitised markets have looked through the recent rates volatility well, with spreads broadly stable across the capital structure in Q3 2026.
French banks caught in crossfire, but fundamentals are solid
France has been the primary focus of the European rates markets in the past week, with domestic political risk and debt concerns adding to a general sell-off across government bonds.