8 Dec 2022 TwentyFour Blog AroundTown: bad call In our latest blog, Pierre Beniguel looks at the implications of AroundTown’s corporate hybrid non-call and the shock announcement that it will also consider deferring coupon payments. Read more
6 Dec 2022 TwentyFour Blog The Rodney Blog 2023: A return to returns In our annual ‘Rodney Blog’, Eoin Walsh says that with rates now offering both yield and downside mitigation, and credit yields at near-decade highs, fixed income investors could enjoy strong returns in 2023 Read more
22 Nov 2022 TwentyFour Blog Highest starting yields since ‘08 predict strong five-year returns Chris Bowie explains why he believes analysing starting yields can explain improved returns over the next five years Read more
17 Nov 2022 Market Update Are short term bonds the ‘best game in town’? With investors caught between inflation and recession, Chris Bowie argues current valuations in short term, investment grade bonds can offer portfolios both downside protection and attractive yields. Read more
15 Nov 2022 TwentyFour Blog Reasons to be constructive on extension risk Telefonica’s reopening of the corporate hybrid market is further evidence that large issuers with proven track records and strong financials will call their bonds even if it looks uneconomic to do so, says Johnathan Owen. Read more
8 Nov 2022 TwentyFour Blog Healthy premiums drive big day for primary markets With well over €10bn of new bonds sold by European banks and corporates on Monday, Felipe Villarroel analyses the pricing and looks at the patterns that usually emerge when primary markets reopen. Read more
1 Nov 2022 TwentyFour Blog UK risk premium looks too steep with stability restored With Rishi Sunak and Jeremy Hunt leading a more fiscally conservative UK government, Johnathan Owen checks in on sterling asset valuations and argues the UK premium is overcompensating for underlying risks. Read more
14 Oct 2022 Market Update Investment Grade Quarterly Update – October 2022 TwentyFour Portfolio Manager, Johnathan Owen, explains how investment grade markets have performed in Q3 2022. Watch now
7 Oct 2022 TwentyFour Blog Are BBBs still the place to be? With rates volatility persisting and developed markets likely sliding toward recession, Jack Daley revisits our research on BBB defaults and returns and explains why we tend to maintain a significant allocation to BBB credit. Read more
13 Sep 2022 Market Update Is there now enough yield on the table in fixed income? Chris Bowie runs through the four risks he says fixed income investors need to watch right now – inflation, unemployment, geopolitics and liquidity – and why he believes short dated bonds might offer some protection Watch now
13 Sep 2022 Market Update Why are high break-evens attractive for investors? Johnathan Owen explains why bonds with high break-even yields can be attractive for investors, and looks at two examples of UK companies with high break-evens. Watch now
20 Jul 2022 Market Update Investment Grade Quarterly Update – July 2022 Gordon Shannon reviews Q2 2022 in fixed income and breaks down the resulting risks and opportunities he sees in investment grade bonds. Watch now