All insights
A new theme to the upcoming earnings season
As we enter earnings season, Felipe Villarroel believes a new topic of interest on many market participant's mind is US regional banks. From a macro point of view, one topic markets are likely to focus on includes to what degree, if at all, have deposits returned in any size to the sector?
A helpful technical
As mid-year investment bank reviews hit our screens, we are seeing a shared expectation of spread decompression between IG and HY bonds, signalling rising defaults. Pierre Beniguel argues that tightening HY spreads and resilient performance suggest surprising sector support due to lower issuance and available cash.
Thames Water - Green is not always clean
Thames Water has been in the headlines for all the wrong reasons in the past week. In our latest blog, Johnathan Owen explores their operational struggles, how the potential nationalisation raises concerns for investors and the wider implications for green bonds.
Of averages, medians and Fed funds rates
Felipe Villarroel discusses the observations of the median long run rate and what this means for the neutral rate.
Rainbows from Barca
Last week Aza Teeuwen and our ABS team visited the Global ABS conference in Barcelona. One key discussion point in CLOs was around the lack of leveraged loan supply and the resultant sharp slowdown in the primary market
Central Banks did not rock the boat
In a week with several important releases and monetary policy decisions, what have we learnt?