4 Sep 2023 TwentyFour Blog New issues highlight value opportunities in fixed income Pierre Beniguel gives his thoughts on some of the deals that have caught his eye from the reopening of the primary market after a quiet summer. Read more
31 Aug 2023 TwentyFour Blog How UK mortgages are weathering the storm? Pauline Quirin asks the question "How are UK mortgages weathering the storm?", exploring pre and post Global Financial Crisis mortgages and how the surge in rates has impacted the performance of UK RMBS. Read more
30 Aug 2023 TwentyFour Blog Labour markets show encouraging signs of progress Felipe Villarroel takes a look at what progress, if any, has been made in the labour market and how this resonates with the Fed's projection of labour markets easing while not experiencing a major disruption. Read more
24 Aug 2023 TwentyFour Blog Poor PMI data weigh on soft landing narrative Felipe Villarroel shares his thoughts on the recently released preliminary PMI data, which he concludes is a reminder that the hiking cycle only started 18 months ago and there are lags that are yet to be felt in the real economy, reiterating some of his previous views. Read more
22 Aug 2023 TwentyFour Blog Will the Fed message soften at Jackson Hole? An interesting debate, and topic that is attracting plenty of headlines given the recent volatility is where Treasury yields will ultimately settle, with a renewed focus on the neutral rate. Eoin Walsh explores the previous movements of Treasury yields and what Powell is likely to say at Jasckon Hole. Read more
2 Aug 2023 TwentyFour Blog Banks have done their part – now will markets catch up Bank bonds have been amongst the best performing asset classes in fixed income over the last few months, doing their bit in proving their strength. Read more
1 Aug 2023 TwentyFour Blog BoE stress test shows resilience of the UK RMBS market Elena Rinaldi lays out analysis from the team's recreation of the BoE's bank stress test from a mortgage default and loss point of view, applying it to a benchmark UK RMBS BBB-rated bond. Ultimately finding that this type of analysis gives us confidence that the UK RMBS market can withstand stresses beyond those applied by the BoE. Read more
27 Jul 2023 TwentyFour Blog ECB's bank lending survey has something for everyone Felipe Villarroel gives an overview of what he believes to be important features of the survey, reflecting on both the good and the bad news. Read more
19 Jul 2023 TwentyFour Blog Reinvestment risk growing, along with the soft landing narrative What level of risk are investors willing to take? As central bank rates hike and a soft landing narrative makes its way into analysts’ forecasts, Eoin Walsh takes a look at what affects this has on investment risk and reinvestment risk. Read more
19 Jul 2023 Market Update Investment Grade Quarterly Update – July 2023 Jack Daley takes a look into the economic events that have influenced the investment grade markets in Q2. He then goes on to explain why he believes investment grade fixed income offers the most attractive risk-adjusted returns currently available. Watch now
19 Jul 2023 Market Update Multi-Sector Bond Quarterly Update – July 2023 In our MSB update, Charlene Malik, reflects on the banking turmoil that occurred in Q2, as well as happenings around the US debt ceiling and global inflation. She then goes on to discuss the ways the MSB team have responded to Q2 events. Watch now
18 Jul 2023 TwentyFour Blog Soft landing narrative taking hold What sort of landing will the global economy experience? With the recent release of the US CPI report, inflation has been on a downward trend and the resilient activity data has continued to surprise many. This report has acted as a trigger of sorts for increasing calls for a soft landing. Read more