The TwentyFour Blog
Are banks being deregulated?
Reading recent headlines in the financial press, in addition to recent proposals from both US and European regulators, you could be forgiven for thinking banks are undergoing a wave of deregulation.
Warsh’s debut eases independence concerns, but weakens the ‘Fed put’
Wednesday’s Federal Reserve (Fed) press conference was one of the most eagerly awaited in a very long time. Kevin Warsh’s debut as chair, after three weeks in post, was not an easy one.
Global ABS: Eight takeaways from Barcelona
Last week marked a milestone for the structured finance industry with a record 6,003 market participants gathered in Barcelona for the 30th Global Asset-Backed Securities (ABS) conference.
One hike done, but don’t bet on a long cycle
Yesterday, the European Central Bank (ECB) delivered a widely expected 25 basis point (bp) rate hike. becoming the first major central bank in developed markets to have raised rates in response to the Iran conflict.
Italian banks step up consolidation efforts
The Italian banking sector has kicked off the week with news of a potentially blockbuster merger, showing the theme of mergers and acquisitions (M&A) in European banking is very much alive.
As reinvestment ends, the 2021 and 2022 vintages are testing CLO managers
In 2026, we are at a crucial juncture for European CLO managers. The 2021 and 2022 vintages are reaching the end of their reinvestment period. Understanding why this is significant is vital to grasping the current state of the CLO markets.
Short-dated credit: Why front-end yields are hard to ignore
The conflict in Iran has driven a sharp repricing at the front-end of rates markets, pushing central bank expectations from cuts to hikes in a matter of weeks. While the reaction is understandable given the inflationary impact, the scale of the move has left front-end yields on a more attractive footing.
Falling UK net migration and what it means for labour markets
The Office for National Statistics (ONS) recently published the UK’s net migration figures for the second half of 2025. The data shows that the downward trend from the extreme post-Covid levels continues.
The return of the LBO in a selective market
Persistent macroeconomic volatility, geopolitical tensions and AI-driven disruption have all shaped the start of 2026. It has also marked the return of the leveraged buyout (LBO).
European bank results show little impact from Middle East conflict
European bank results for the first quarter of 2026 have revealed a strong start to the year, allaying some of the concern that the prolonged conflict in the Middle East might impact bank fundamentals to some extent.
Deal selection critical as credit shrugs off Iran conflict
Credit markets have been remarkably resilient in the face of significant geopolitical and macroeconomic volatility in recent weeks.
The state of play in fixed income as Iran tensions reignite
With tensions in the Strait of Hormuz increasing over the weekend and markets getting used to oil prices well in excess of $100 per barrel, this seems an opportune moment to zoom out and look at the state of play in fixed income markets, considering the unsettling reality of a longer-than-expected conflict in the Middle East.