7 Aug 2018 TwentyFour Blog ABS: 2018 So Far and What To Expect Now that the summer lull has finally kicked in, it seems an ideal time to review the ABS market so far this year and try to make a prediction for the remainder of 2018. Read more
11 Jul 2018 TwentyFour Blog Welcome Diversity In the past two years the diversity of supply in the ABS market has been restricted by the availability of cheaper funding alternatives, both in the Eurozone through the TLTRO and in the UK, where the BoE Term Funding Scheme has suppressed issuance from the traditional banks and building societies. Read more
5 Jul 2018 TwentyFour Blog Summer Supply Creates Pricing Opportunity It’s been an interesting week for European CLOs; one of our favourite picks in fixed income. Read more
27 Jun 2018 TwentyFour Blog Resurrection Of A Market The last ten year period has seen supply from various parts of the ABS market ebb and flow. Read more
20 Jun 2018 TwentyFour Blog Capital Relief Becoming More Interesting For Banks For many years ABS has primarily been used as a funding tool for banks and other lenders. Read more
18 Jun 2018 TwentyFour Blog Do You Remember ABS Market Volatility? It seems a long time since the European ABS market saw any meaningful volatility. Read more
14 Jun 2018 TwentyFour Blog Cautious Optimism in ABS Nearly 4,000 international ABS market participants attended the Association for Financial Markets in Europe’s Global ABS Conference last week, the biggest attendance since the financial crisis. Read more
15 May 2018 TwentyFour Blog ABS Risk Tiering European ABS market performance and volatility have been remarkably stable since 2016, largely weathering broader credit weaknesses so far this year. Read more
10 May 2018 TwentyFour Blog STS Revisions Fall Short of Game-changing Last year we wrote about the forthcoming "STS" (Simple, Transparent and Standardised) regulation for securitisation, designed in part to harmonise eligibility and capital charges for ABS across the wider regulatory landscape. Read more
16 Mar 2018 TwentyFour Blog Roll Down explained Several times this year we have discussed the benefits of “roll down” in an environment that for fixed income investing is particularly unfriendly. We believe roll down gains will be one of the best ways to protect portfolios in 2018 from the rising rate curves that we have been experiencing so far. Read more
7 Mar 2018 TwentyFour Blog CLOs 5 years on Five years ago, the European CLO market restarted when Cairn issued the first post-crisis CLO in Europe – the start of the 2.0 market – and after a slow first year we have seen plenty more CLOs coming to market from a large mix of legacy and new managers. Read more
1 Mar 2018 TwentyFour Blog Going it Alone All good things must come to an end, and from today UK bank treasurers face life without the Term Funding Scheme (TFS). Read more