Banks

On ​​​​​this webinar, Chris Bowie (Partner, Portfolio Management) provided a macro update on fixed income markets and how these views are reflected in the positioning of our short-dated funds.

The Federal Open Market Committee (FOMC) meeting was a relatively uneventful one, but there are a few points worth highlighting.

Recently, BBVA announced that it had approached the management of Banco Sabadell, to explore a possible merger between both entities, with BBVA also appointing advisers for this purpose.

In this Back to Basics webinar, Jakub Lichwa (Portfolio Management) and Dillon Lancaster (Portfolio Management) from our Multi-Sector Bond team gave their valuable insights into the importance of maintaining sufficient levels of bank capital to uphold financial stability.

Money supply measures such as M1 and M2 enjoyed a relatively brief period of fame and glory just after the pandemic.

On this webinar in our Spotlight on ESG series, Johnathan Owen, Portfolio Management discussed fossil fuel financing and how we engage with banks on this subject.

Volatility made an unwanted come back this week. A combination of rising tensions in the Middle East, strong Consumer Price Index (CPI) and labour market data in the US in previous days, and markets that looked somewhat expensive in certain sectors, all conspired to cause a widening in spreads and a correction in equity prices.

The Additional Tier 1's product was first launched in early 2013, so the asset class has mostly seen the period of negative interest rates and challenging operating environment post the Euro zone crisis.

The US Consumer Price Index (CPI) surprised on the upside for the third month in a row. There was nowhere to hide in the release with a majority of sub categories and sub aggregates posting worse numbers than expected.

It has been an eventful few weeks in the European high yield market. After waiting a long time for a bus to come along, three have come along at once.

Quarter ends are always a useful time to take a step back and assess what the main macro drivers during the quarter were, which trades worked and which did not and to refresh macro views for the next period.

Over the course of last week, we saw several headlines around Additional Tier 1s (AT1s). First, the Dutch Finance Ministry indicated it is exploring the possibility of modifying or abolishing the asset class.