7 Jan 2022 TwentyFour Blog Light at the end of the inventory tunnel As we enter the third year of the pandemic, most market participants are asking themselves (once again) if this will be the year when supply chain issues finally abate. Read more
6 Jan 2022 TwentyFour Blog Comprehending the latest Treasury spike Given the swiftness of the Fed’s pivot we think risks are tilted towards the central bank doing more and not less. We wouldn’t even rule out a 50bp rate hike at some point. Read more
14 Dec 2021 TwentyFour Blog FOMC: Hard to shake sense the Fed is behind the curve Jerome Powell’s recent testimony to the Senate Banking Committee, in which he said the Fed would discuss a faster taper of its asset purchases at December’s FOMC meeting, has led to intense speculation that we could see a move this week. Read more
10 Dec 2021 TwentyFour Blog When will labour market strength JOLT Treasuries higher? The labour market in the US shows little sign of weakening, despite the huge number of jobs already created this year. Read more
2 Dec 2021 Market Update Policy, economy and markets must converge in 2022 Shortly after publishing his annual Rodney Blog, TwentyFour CEO Mark Holman sat down with Tom Porter to discuss the biggest calls fixed income investors will have to make in 2022, and explain why he believes the current disconnect between monetary policy, the economy and the markets cannot last for long. Watch now
30 Nov 2021 Market Update Five questions for bond markets in 2022 How do investors deal with inflation? Do central banks know what they’re doing? And does anyone know where Treasuries are heading? CEO Mark Holman tackles the bond market’s biggest questions as he looks ahead to 2022. Read more
29 Nov 2021 TwentyFour Blog The Rodney Blog 2022: Policy, economy and markets must converge What we are currently experiencing is a disconnect between monetary policy, the economy and the markets, a disconnect that in our view will struggle to survive much longer. Read more
26 Nov 2021 TwentyFour Blog How swaps can reduce rates risk as we move towards tightening With rising government bond yield curves one of the biggest concerns for fixed income fund managers going into 2022, Eoin Walsh points to interest rate swaps as one option for reducing the rates risk of a portfolio without impacting its credit exposure. Read more
24 Nov 2021 TwentyFour Blog 2022 outlooks could make for a sobering December This week the team at TwentyFour have been busy compiling our 2022 fixed income outlook, which will be published next week. There is no doubt we are confronted with a challenging set of circumstances, which will provide investors – not just in fixed income – with headwinds in the year ahead, and in particular we think during the first half. Read more
11 Nov 2021 TwentyFour Blog The maths of the US labour market Before the pandemic struck in February 2020, there were 159 million employed Americans; by the end of April that year, 26 million jobs disappeared. Since then, politicians and central bankers have focused on recovering all jobs lost to the pandemic fallout and returning to pre-COVID levels. Read more
27 Oct 2021 TwentyFour Blog Supply Chain Reaction Increases Pressure on Fed With all eyes on November 3 and the Fed’s next move, Paul Kim looks at supply chain disruption in the US and how its cost pressures have shifted the narrative on ‘transitory’ inflation. Read more
14 Oct 2021 TwentyFour Blog Investor Nervousness Priced In? Fixed income markets have experienced a reasonable correction over recent weeks and, for higher-yielding indices at least, their first negative period so far this year. Read more