TwentyFour Blog | Read | 4 min 1 Mar 2023 Financial conditions are tightening – what comes next? With banks tightening lending criteria in the US, Felipe Villarroel explains why macro trends like this will have more influence on the Fed’s thinking than the recent strong jobs data when it comes to the path for monetary policy. Read more
TwentyFour Blog | Read | 4 min 24 Feb 2023 Are markets finally following the Fed? With 2023’s rally halted by the Fed’s hawkish messaging, Felipe Villarroel questions whether markets read the recent jobs data correctly and looks at what it means for terminal rate expectations. Read more
TwentyFour Blog | Read | 2 min 20 Feb 2023 High yield data shows buffer in corporate balance sheets While corporate fundamentals are expected to deteriorate as rate hikes hit the economy, many metrics are pointing to record strength in the European high yield space, says George Curtis. Read more
TwentyFour Blog | Read | 2 min 14 Feb 2023 UK consumer caution bad for growth, but good for bonds With UK consumers holding on to more of their pandemic-era savings than their US counterparts, Felipe Villarroel looks at what it means for bond investors. Read more
TwentyFour Blog | Read | 3 min 8 Feb 2023 Let it go, turn away and slam the door With commercial real estate continuing to suffer the effects of the COVID pandemic and inflation, Elena Rinaldi looks at one CMBS transaction highlighting the challenges facing the asset class. Read more
TwentyFour Blog | Read | 4 min 7 Feb 2023 Fundamentals suggest more upside for high yield bonds With risk assets rallying hard in the early weeks of 2023, Chris Holman reviews fundamentals in high yield bonds to see if recent performance has left any value in the market. Read more
TwentyFour Blog | Read | 2 min 6 Feb 2023 Is the CLO whale back in the water? With Norinchukin Bank reportedly looking again at CLOs, Aza Teeuwen looks at the potential impact the return of the one of the market’s biggest buyers might have on spreads. Read more
TwentyFour Blog | Read | 3 min 2 Feb 2023 No, you haven’t missed the fixed income rally Strong performance across markets in January has left some investors feeling they’ve missed out on the rally in bonds. No need to worry, says Felipe Villarroel. Read more
TwentyFour Blog | Read | 5 min 30 Jan 2023 The compelling case for ABS in 2023 Having done its job of delivering lower volatility and better performance than mainstream bond markets in 2022, the income and defensive characteristics of European ABS look equally compelling in 2023, says Doug Charleston. Read more
TwentyFour Blog | Read | 3 min 25 Jan 2023 Having your cake and eating it While yields have soared in recent months and created a broad buying opportunity in fixed income, Aza Teeuwen says investors should look at floating rate bonds to benefit from higher coupons today. Read more
TwentyFour Blog | Read | 4 min 23 Jan 2023 Bracing for impact in commercial real estate With commercial real estate seen to be in the eye of the storm as interest rates rise, Aza Teeuwen looks at the potential impact on CMBS and CRE loans and highlights where valuations could be most at risk. Read more
TwentyFour Blog | Read | 3 min 19 Jan 2023 New year, new mood as ABS supply ramps up European ABS is enjoying a spurt of new issuance and a parallel rally in spreads, with investors having entered the new year with cash to invest and buoyed by renewed hope around inflation and monetary policy, says Pauline Quirin. Read more