Multi-Sector Bonds

A member of the Multi-Sector Bond team discusses market conditions in Q4 2021 and provides her outlook for the new year.

After an interesting start to the year that has already brought large moves in rates markets and kept inflation in the headlines, Eoin Walsh looked at the major headwinds facing fixed income investors and laid out the reasons why we are positive on the asset class in 2022.

Shortly after publishing his annual Rodney Blog, TwentyFour CEO Mark Holman sat down with Tom Porter to discuss the biggest calls fixed income investors will have to make in 2022, and explain why he believes the current disconnect between monetary policy, the economy and the markets cannot last for long.

What we are currently experiencing is a disconnect between monetary policy, the economy and the markets, a disconnect that in our view will struggle to survive much longer.

Eoin Walsh explains how bond investors can use the three dimensions of credit – amount, quality, duration – to help maximise or protect returns through different stages of the economic cycle.

A member of the Multi-Sector Bond team discusses market conditions in Q3 2021 and provides her outlook for the rest of the year.

Our base case is for a continuation of quite high growth and a modest inflation overshoot. For bond investors, positioning for stagflation could be a dangerous trade if that base case bears out

TwentyFour Asset Management's annual conference took place virtually for the second year running on September 15 & 16, with hundreds of attendees tuning in live for interactive sessions with TwentyFour's portfolio management team. All the insights from the Multi-Sector team are now available

With ample job openings, inflation well ahead of target, financial conditions that are certainly not tight and strong economic growth, the obvious question is what does the Fed need to see to finally start tapering its asset purchases?

Despite the impressive returns of Euro HY over the last year or so, the backdrop for the asset class continues to suggest there is more upside to come.

This supply surge can be very welcome for those investors with cash to put to work, though it is also eyed with caution.

When combined with other prevalent market dynamics, the favourable ratings trend paves the way for a highly supportive fundamental terrain as we advance through the cycle and one that is ideal for portfolio managers selecting credits.