
Has the UK risk premium gone too far?
With some UK bank bonds now trading with higher yields than their counterparts in Turkey, Mark Holman questions whether the dumping of UK and sterling assets has gone too far.

AT1s: when refinancing a 5% bond at 7.25% makes sense
With call risk in Additional Tier 1 (AT1) bonds back in the headlines, Felipe Villarroel explains how banks think about the economics of calling, and why he believes market participants frequently overestimate this risk.

Are BBBs still the place to be?
With rates volatility persisting and developed markets likely sliding toward recession, Jack Daley revisits our research on BBB defaults and returns and explains why we tend to maintain a significant allocation to BBB credit.

Investor Update - October 2022
Eoin Walsh gave an update on fixed income markets, touching on what has been going on in UK markets, as well as how the events of recent days fit into the overall macro picture, including inflation and the likely path of central bank policy elsewhere in the world.

Where are CLOs trading after the Truss Tantrum?
With the higher rated tranches of euro CLOs popular with UK pension funds, Aza Teeuwen looks at how the market coped with heavy selling in recent days and notes investment grade CLO bonds are now yielding close to 10%.

UK fundamentals turn into technical
Will Kwasi Kwarteng’s U-turn bring some much needed stability to the UK economy? Dillon Lancaster shares his thoughts

Rates stability would be a game-changer for fixed income
With central banks speeding through their hiking cycles, a return to rates stability (elusive thus far) could allow investors to reap the rewards of bond yields that are unusually high for this point in the cycle.

Is the UK mortgage market ‘closed’?
With UK banks pulling mortgages from the market, Douglas Charleston explains why this doesn’t reflect any fundamental weakness in the UK banking sector, but rather the uncertainty created by the sharp moves in UK rates.

UK learns confidence needs communication
With the UK’s mini-Budget sending its currency and bonds into freefall, Gordon Shannon says both the government and the Bank of England need to learn the importance of communication with the markets.

What does market turmoil mean for UK economy?
With reaction to the UK’s mini-budget roiling markets for a second day, Felipe Villarroel looks at what higher rates and a weaker currency mean for the UK economy.

The macro outlook has changed significantly – is a recession upon us?
Partner and portfolio manager, Eoin Walsh, delivered the keynote address at the TwentyFour Fixed Income Conference in London on September 13.

Where and when will US Treasuries peak?
Rates volatility has done plenty of damage to portfolios in 2022. Where, and when, will US Treasury yields peak? Mark Holman shares his views in his latest video.
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