Fixed Income

Federal Reserve (Fed) Chair Kevin Warsh hosted his second Federal Open Market Committee (FOMC) meeting this week, with most people, including ourselves, expecting a hawkish hold.

Data centres are becoming increasingly important in credit markets, as accelerating artificial intelligence (AI) adoption and continued growth in demand for cloud solutions drive significant capital expenditure (capex) needs.

The TwentyFour Multi-Asset Credit (MAC) strategy aims to maximise returns by allocating to a broad range of sectors across the global credit markets and dynamically targeting what it considers the optimum mix of credit assets as economic conditions change across the market cycle.

The European Commission (EC) published a Communication last week on the competitiveness of the European Union (EU) banking sector and the single market in banking, setting out an agenda to reduce national fragmentation and simplify prudential, resolution and reporting requirements.

Credit assets generally performed well in the first of half of 2026, despite periodic volatility driven by the Iran war and concerns about AI disruption and private credit.

US consumer price index (CPI) inflation eased more than expected in June, reducing the probability of a hike at the Federal Open Market Committee (FOMC) meeting later this month.

TwentyFour Asset Management’s Elena Rinaldi reflects on a quarter in which Asset-Backed Securities (ABS) and Collateralised Loan Obligation (CLOs) markets demonstrated resilience despite heightened geopolitical and market volatility.

TwentyFour Asset Management’s Diva Bashay reflects on a quarter which tested market sentiment through geopolitical tensions, shifting interest rate expectations and UK political developments.

TwentyFour Asset Management’s Gordon Shannon reflects on a quarter shaped by geopolitical tensions, government bond volatility and shifting central bank expectations.

The primary risk in a fixed income portfolio is credit risk – the risk that a bond issuer will fail to make payments (or “default”) on its debt.

The German government has been quite an active and bold one since it took office some 15 months ago.

Collateralised loan obligations (CLOs) are securitisations backed by a large pool of senior secured corporate loans, which are financed partly via selling bonds to investors.