TwentyFour

Swiss regulators' decision to bail out Credit Suisse equity holders while wiping out AT1 debtholders will see long-term effects on bank debt markets and likely legal action says Eoin Walsh

The Bank of England joins the European Central Bank in stating that there is a clear hierarchy when it comes to a resolution or an insolvency scenario.

Amidst uncertain economic conditions during a late-cycle environment, we still believe that short-dated, high quality, investment grade bonds with low duration and high break-even yields can play a crucial role in portfolios and are well positioned to weather bouts of volatility that we may see this year.

Partner Eoin Walsh explores what the potential outcome of regulatory intervention for Credit Suisse could mean as negative headlines persist for the bank.

Deposit outflows at Silicon Valley Bank raise concerns over lending quality and mark-to-market losses, but is this a wider issue for the global banking sector?

March 6, 2023, marks the 10th anniversary of the TwentyFour Income Fund (TFIF) being listed on the London Stock Exchange with a £150m capital raise.

February was a nasty throwback to the sort of market conditions that battered fixed income in 2022, but the pull-back has given anyone worried they’d missed the January rally an even better opportunity, says Charlene Malik.

European ABS proved to be a valuable allocation for fixed income investors last year and we think the asset class looks to be even stronger in 2023, with rates and spreads combining to create an attractive income landscape. 

With 2023’s rally halted by the Fed’s hawkish messaging, Felipe Villarroel questions whether markets read the recent jobs data correctly and looks at what it means for terminal rate expectations.

Portfolio managers Chris Bowie and Jack Daley provide an update on the TwentyFour Corporate Bond Fund.

While corporate fundamentals are expected to deteriorate as rate hikes hit the economy, many metrics are pointing to record strength in the European high yield space, says George Curtis.

With commercial real estate continuing to suffer the effects of the COVID pandemic and inflation, Elena Rinaldi looks at one CMBS transaction highlighting the challenges facing the asset class.