All insights

While rising interest rates are generally positive news for European ABS due to the resulting increase in their floating rate coupons, the substantial volatility in UK government bonds recently has seen ABS spreads widen, we believe due in large part to the popularity of the asset class with pension funds as a liquid fixed income allocation alternative.

With a surprising statement issued by the Australian regulator, Eoin Walsh looks at the wider implications for the calling of AT1 bonds

With Rishi Sunak and Jeremy Hunt leading a more fiscally conservative UK government, Johnathan Owen checks in on sterling asset valuations and argues the UK premium is overcompensating for underlying risks.

With private equity firms active buyers of CLOs and CMBS in recent weeks, Aza Teeuwen explains why these investors are shunning physical assets in favour of asset-backed bonds.

While central banks remain committed to battling inflation with big rate hikes, George Curtis detects a clear change in tone which has seen market expectations of terminal rates tumble in recent days.

After Banco Sabadell declined to call its 6.125% AT1s at their first call date due to current market conditions, Dillon Lancaster looks at the structure of the bonds and explains what the move means for investors.

TwentyFour Partner and Portfolio Manager, Douglas Charleston, explains how ABS markets have performed in Q3 2022 and provides his outlook for the rest of the year.

Charlene Hogg summarises the firm's ESG activities in Q3 2022 including successful application for the UK Stewardship Code.

George Curtis looks at market conditions in the third quarter of 2022 and his expectations for the rest of the year.

TwentyFour Portfolio Manager, Johnathan Owen, explains how investment grade markets have performed in Q3 2022.

With some UK bank bonds now trading with higher yields than their counterparts in Turkey, Mark Holman questions whether the dumping of UK and sterling assets has gone too far.

With call risk in Additional Tier 1 (AT1) bonds back in the headlines, Felipe Villarroel explains how banks think about the economics of calling, and why he believes market participants frequently overestimate this risk.