UK banks pass the solvency test
As bondholders, we are comforted by all the banks passing such a severe test.
Insights Topic
TwentyFour Blog
FOMC: Hard to shake sense the Fed is behind the curve
Jerome Powell’s recent testimony to the Senate Banking Committee, in which he said the Fed would discuss a faster taper of its asset purchases at December’s FOMC meeting, has led to intense speculation that we could see a move this week.
This is as good as it gets for linkers
Against a backdrop of 4.20% year-on-year UK consumer price inflation (CPI), if you got your timing right, linkers (inflation-linked UK government bonds) will certainly have outperformed conventional Gilts by some margin.
When will labour market strength JOLT Treasuries higher?
The labour market in the US shows little sign of weakening, despite the huge number of jobs already created this year.
Euro CLOs a top pick for 2022
Markets have clearly experienced some periods of volatility this year, and while European CLOs haven’t been immune to this, both fundamentals and prices have been remarkably stable.
EM looks very cheap, but patience a virtue
Emerging markets assets have endured a lot of punishment during 2021.
Where is the yield in floating rate bonds?
With floating rate assets likely to be high on investors’ shopping lists for 2022, Doug Charleston looks at the floating rate options across fixed income and highlights the highest yielding opportunities.
Credit exposure should be smart and short in 2022
Fundamentally the outlook for 2022 appears less supportive than it was 12 months ago.
The Rodney Blog 2022: Policy, economy and markets must converge
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.
How swaps can reduce rates risk as we move towards tightening
With rising government bond yield curves one of the biggest concerns for fixed income fund managers going into 2022, Eoin Walsh points to interest rate swaps as one option for reducing the rates risk of a portfolio without impacting its credit exposure.
2022 outlooks could make for a sobering December
This week the team at TwentyFour have been busy compiling our 2022 fixed income outlook, which will be published next week. There is no doubt we are confronted with a challenging set of circumstances, which will provide investors – not just in fixed income – with headwinds in the year ahead, and in particular we think during the first half.
The maths of the US labour market
Before the pandemic struck in February 2020, there were 159 million employed Americans; by the end of April that year, 26 million jobs disappeared. Since then, politicians and central bankers have focused on recovering all jobs lost to the pandemic fallout and returning to pre-COVID levels.