All insights
What Would it Take For the Fed to Cut?
With markets now pricing in two cuts in the Fed Funds rate this year, and a 97% chance of at least one cut, once again the FOMC members are at odds with the financial markets.
A Tale of Two Bonds – Primary vs Secondary
In the ABS market we often refer to the technical around supply and demand which can influence the direction of spreads as a consequence.
Pricing a US Recession Won’t Make it Real
One of the main drivers of global markets at the moment is the exact status of the economic cycle in the United States, and on a related note, what the Federal Reserve’s next moves are likely to be. One question we are being asked more and more often by investors is whether we think a recession is coming in the US, and if so, when?
Lloyds Next Not to Call?
Earlier this year Santander became the first bank not to call its Additional Tier 1 (AT1 or ‘CoCo’) bonds at the first call date
The Problem With Gilts
Since the result of the UK referendum in June 2016 there has been a noticeable ‘Brexit-premium’ associated with most sterling denominated assets.
Supply Slowdown Points to CLO Performance
At the end of Q1 we were surprised by the solid pace of supply in CLOs, especially considering the challenging arbitrage dynamics facing issuers.