Multi-Sector Bond Quarterly Update – July 2022
A member from our Multi-Sector Bond team reviews the main market drivers in the second quarter of 2022 and explains how the Strategic Income team is tackling today’s environment.
Insights Topic
Fixed Income
Asset-Backed Securities Quarterly Update – July 2022
Douglas Charleston looks at the development of the European ABS market in the second quarter of 2022 and explains what this could mean for investors going forward.
ESG Quarterly Update - July 2022
Charlene Hogg summarises the firm's ESG activities in Q2 2022 and explains how regulation, planning for net zero and CSR are having an impact.
Will high yields stay high?
For all of these observations, there is one common observation – yields did not stay at these high levels for very long.
What has driven yields higher – rates or credit?
With investors having endured a painful period of rising yields in 2022, Mark Holman looks at whether rates weakness or credit spread widening has been most to blame.
Just how healthy is the consumer?
Consumers are being hit from seemingly all angles at the moment. Higher interest rates are coming, higher inflation is already hitting their pockets hard and economic growth is expected to slow.
Even in recession, defaults will be lower than previous cycles
The vast majority of the high yield universe used the attractive funding conditions last year to term out their maturity profiles. In fact, 2022 maturities in both US and European high yield equate to just 1% of their respective indices.
The solace provided by a robust earnings season
Earnings season is now in full swing, and it has undoubtedly been eventful. During the first quarter, companies have had to navigate multiple obstacles, including surging commodity prices, hawkish central bank policies, a Russian invasion, further supply chain disruptions caused by lockdowns in China, and dwindling consumer confidence.
Growing CRE ABS offers diversification and yield
CRE ABS offers conservatively structured debt features, with generally short duration exposure and a spread premium rewarding the more intensive underwriting and due diligence required.
Investment Grade Quarterly Update – April 2022
TwentyFour Partner and Portfolio Manager, Gordon Shannon, describes the developments of the investment grade strategy in Q1 2022.
Asset-Backed Securities Quarterly Update – April 2022
TwentyFour Portfolio Manager, Elena Rinaldi, explains how European ABS markets behaved in Q1 2022 and provides her outlook for the year ahead.
Multi-Sector Bond Quarterly Update – April 2022
TwentyFour Partner and Portfolio Manager, Eoin Walsh, discusses market conditions in Q1 2022 and provides his outlook for the year ahead.