10 Mar 2020 TwentyFour Blog What Next For Bonds After 'Capitulation Day' Monday was one of those days investment professionals will remember all their lives, and compare with similar standout days from the past. Read more
3 Mar 2020 TwentyFour Blog Will central banks ease the coronavirus pain The big question for us now is how long the impact of the virus may last, and how much of a supply and demand shock will there be as a consequence of the various efforts to stall its spread. Read more
20 Feb 2020 TwentyFour Blog Could Fiscal Stimulus Inflate Expectations? Given where asset prices are at the moment, we would categorise inflation as a low probability, but high impact, risk. Read more
18 Feb 2020 TwentyFour Blog Johnson Clears Path to Fiscal Stimulus Next month’s budget now has the green light to be Johnson’s fiscal bazooka, with tax cuts, housing schemes and infrastructure projects already mooted. Read more
3 Feb 2020 Market Update 2020 Fixed Income Outlook Partner and Portfolio Manager Felipe Villarroel recently hosted a webinar providing an outlook for credit markets in 2020, highlighting investment themes and sectors that still offer fixed income investors good relative value. Watch now
31 Jan 2020 TwentyFour Blog A Fond Farewell to the Unreliable Boyfriend? In what was Mark Carney’s last meeting as governor of the Bank, the MPC delivered a mixed message. Read more
27 Jan 2020 Market Update TwentyFour Q1 Investor Update CEO Mark Holman provides his outlook for credit markets in 2020, highlighting investment themes and sectors that still offer fixed income investors good relative value. Watch now
23 Jan 2020 TwentyFour Blog The BoE Should Wait and See A rate cut now makes very little sense to us, and wastes one of the few bullets the BoE has left in its armoury. If they do decide to cut next week, we think it will be reversed within 12 months. Read more
17 Jan 2020 Market Update Strategic Income – Quarterly update – January 2020 CEO and Portfolio Manager Mark Holman discusses Q4 performance for the Strategic Income strategy and provides his outlook for 2020. Watch now
13 Sep 2019 TwentyFour Blog Draghi’s Parting Shot Will Not Be Enough Yesterday we most likely witnessed Mario Draghi’s last monetary policy package. The European Central’s next meeting on October 24 will be the president’s last, and given the extent of the measures unveiled on Thursday it is looking like a non-event. Read more
22 Aug 2019 TwentyFour Blog An ECB Rate Cut Will Make QE Inevitable The European Central Bank faces quite a conundrum ahead of its upcoming monetary policy meeting on September 12. ECB President, Mario Draghi, has clearly signalled that a cut to the refinancing rate (currently at minus 40bp) is likely and markets are now pricing this in with an 85% probability. The problem is, the ECB has also signalled that it will simultaneously consider tiering the bank reserves this rate actually applies to. Read more
21 Aug 2019 TwentyFour Blog Have Bonds Ever Been This Expensive? The average yield of the bond market today is 1.46%, while its average duration is 7.05 years, going by the widely used proxy of the Barclays Multiverse Index. Read more