Multi-Sector Bonds

Defined by the realities of persistent inflation and an uncertain geopolitical backdrop, bond market conditions during 2022 have proved nothing short of challenging.

So far this year, the spread between two-year and 10-year US Treasury yields has declined from 77bp to 51bp.

For fixed income investors, the start to 2022 has been trickier than any we have experienced for many years, but we think this difficulty is to be expected and aligns with our macro view.

After a challenging January, which saw markets beginning to come to terms with a very hawkish Fed pivot and rising Russia-Ukraine tensions, it is worth taking stock of the moves we have seen in fixed income over the last few weeks.

TwentyFour Portfolio Manager, Charlene Malik, discusses market conditions in Q4 2021 and provides her outlook for the new year.

After an interesting start to the year that has already brought large moves in rates markets and kept inflation in the headlines, Eoin Walsh looked at the major headwinds facing fixed income investors and laid out the reasons why we are positive on the asset class 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.

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.

Eoin Walsh explains how bond investors can use the three dimensions of credit – amount, quality, duration – to help maximise or protect returns through different stages of the economic cycle.

TwentyFour Portfolio Manager, Charlene Malik, discusses market conditions in Q3 2021 and provides her outlook for the rest of the year.

Our base case is for a continuation of quite high growth and a modest inflation overshoot. For bond investors, positioning for stagflation could be a dangerous trade if that base case bears out

TwentyFour Asset Management's annual conference took place virtually for the second year running on September 15 & 16, with hundreds of attendees tuning in live for interactive sessions with TwentyFour's portfolio management team. All the insights from the Multi-Sector team are now available