2 Aug 2023 TwentyFour Blog Banks have done their part – now will markets catch up Bank bonds have been amongst the best performing asset classes in fixed income over the last few months, doing their bit in proving their strength. Read more
27 Jul 2023 TwentyFour Blog ECB's bank lending survey has something for everyone Felipe Villarroel gives an overview of what he believes to be important features of the survey, reflecting on both the good and the bad news. Read more
24 Jul 2023 TwentyFour Blog PMIs below expectations in Europe and the UK Felipe Villarroel looks at the preliminary numbers for July PMI Manufacturing and PMI Services data, and how from a markets point of view, he thinks volatility will remain in place while both rates and spreads should trade in a range as we await for more clarity on whether inflation will allow Central Banks to pause and the extent of the slowdown in H2, particularly considering August is looming. Read more
19 Jul 2023 Market Update Asset-Backed Securities Quarterly Update – July 2023 Douglas Charleston believes European ABS has once again provided a rare bright spot for fixed income. He explains how, from Q1 to Q2, focuses have shifted, and delves into different macro-economic variables affecting the ABS market. Watch now
19 Jul 2023 TwentyFour Blog Reinvestment risk growing, along with the soft landing narrative What level of risk are investors willing to take? As central bank rates hike and a soft landing narrative makes its way into analysts’ forecasts, Eoin Walsh takes a look at what affects this has on investment risk and reinvestment risk. Read more
18 Jul 2023 TwentyFour Blog Soft landing narrative taking hold What sort of landing will the global economy experience? With the recent release of the US CPI report, inflation has been on a downward trend and the resilient activity data has continued to surprise many. This report has acted as a trigger of sorts for increasing calls for a soft landing. Read more
12 Jul 2023 TwentyFour Blog Is the UK Labour Market easing at the margin? Following the release of the Monthly Labour Market Overview, Felipe Villarroel highlights key takeaways on the tightness of the UK’s labour market. He assesses the changes to the demand and supply of the labour force - focusing on the ‘Inactivty Rate’, “Long-Term Sick” and “Retired” categories, and migration trends - and what this means for wage inflation. Read more
21 Jun 2023 TwentyFour Blog Of averages, medians and Fed funds rates Felipe Villarroel discusses the observations of the median long run rate and what this means for the neutral rate. Read more
16 Jun 2023 TwentyFour Blog Central Banks did not rock the boat In a week with several important releases and monetary policy decisions, what have we learnt? Read more
12 Jun 2023 TwentyFour Blog A busy week ahead for central banks What can we expect from central banks this week? Felipe Villarroel looks at how recent CPI prints in the Eurozone and in the United States are expected to influence upcoming central bank monetary policy decisions. Read more
8 Jun 2023 TwentyFour Blog European consumers not expecting a hard landing What have we learnt from the ECB’s Consumer Expectations Survey? Felipe Villarroel discusses how latest changes in the consumer’s expectations of the economy reflect that the ECB’s monetary policy is actually working. Read more
1 Jun 2023 TwentyFour Blog US debt - stuck in a vicious cycle In recent weeks the US debt ceiling has been dominating headlines with investors focused on the imminent threat of a US default which would be extremely unnerving for global markets. Johnathan Owen looks at the wider implications facing the US economy. Read more