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Following the aggressive rates rally at the end of 2023, Q1 saw notable gains, with inflation surpassing expectations. Johnathan Owen, Portfolio Management, highlights a more promising inflation outlook and its implications for the Investment Grade team. 

Douglas Charleston, Partner & Portfolio Management, concludes the first quarter in 2024 for the Asset-Backed Securities team, noting that while major economies remain resilient, the rates markets have undergone significant shifts, with central banks reassessing their rate cut expectations.

Corporate hybrids are bonds issued by companies that combine characteristics of both debt and equity.

In this Back to Basics webinar, Aza Teeuwen (Partner, Portfolio Management) and Elena Rinaldi (Portfolio Management), provided a comprehensive understanding of the key aspects and trends within the European CLO market.

On our latest educational webinar in our Spotlight on ESG series, Charlene Hogg (Head of Legal) and Sujan Nadarajah (Partner, Chief Compliance Officer) were joined by our guest speaker, Michaela Walker (Partner & Product Group Head, Eversheds Sutherland), to advise on the various relevant regulatory changes, including the impact of ESG and sustainability factors on funds and fund managers.

In this Back to Basics webinar, Aza Teeuwen (Partner, Portfolio Management) and Douglas Charleston, (Partner, Portfolio Management) provided a comprehensive understanding of the key aspects and trends within the European RMBS market.

Aza Teeuwen reflects on a busy quarter for the Asset-Backed Securities team, highlighting the primary deals and trading that occurred all the way through the quarter until the end of December, the performance of ABS for the quarter, and his confidence that ABS is in a good position to carry its strong momentum into 2024.

Dillon Lancaster provides an update on the recent events which occurred during Q4 2023, highlighting the volatility in the treasury market which dominated the beginning of the fourth quarter, and the turnaround in November, which saw US inflation fall below expectations and labour data weaken.

After a tumultuous year for fixed income, government bond markets were finally delivering a story of falling inflation in Q4 2023. In our Investment Grade quarterly update, Gordon Shannon reflects on Q4, and in particular the month of December which proved to be one of the strongest months of the year, as hopes of multiple rate cuts in 2024 were accelerated.

There is good reason for fixed income investors to be positive as we move into 2024, although there is also reason to remain cautious. The welcome news is that inflation globally has finally started to fall after remaining stubbornly high for most of 2023.

Douglas Charleston, believes 2024 will continue to provide the carry that has been so welcome, but see market growth and diversity continuing to make European ABS increasingly scalable. 

Our most recent Spotlight on ESG: Unveiling the greenwashing smokescreen webinar, hosted by Johnathan Owen, discusses greenwashing and how we look to navigate the complex landscape of sustainable claims.