All insights
One hike done, but don’t bet on a long cycle
Yesterday, the European Central Bank (ECB) delivered a widely expected 25 basis point (bp) rate hike. becoming the first major central bank in developed markets to have raised rates in response to the Iran conflict.
Flash Fixed Income: Hawkish central banks favour short-term bonds
Having initially expected central banks to cut interest rates in 2026, investors now face a hawkish pivot after the European Central Bank (ECB) hiked rates at its June meeting.
Italian banks step up consolidation efforts
The Italian banking sector has kicked off the week with news of a potentially blockbuster merger, showing the theme of mergers and acquisitions (M&A) in European banking is very much alive.
As reinvestment ends, the 2021 and 2022 vintages are testing CLO managers
In 2026, we are at a crucial juncture for European CLO managers. The 2021 and 2022 vintages are reaching the end of their reinvestment period. Understanding why this is significant is vital to grasping the current state of the CLO markets.
Short-dated credit: Why front-end yields are hard to ignore
The conflict in Iran has driven a sharp repricing at the front-end of rates markets, pushing central bank expectations from cuts to hikes in a matter of weeks. While the reaction is understandable given the inflationary impact, the scale of the move has left front-end yields on a more attractive footing.
Falling UK net migration and what it means for labour markets
The Office for National Statistics (ONS) recently published the UK’s net migration figures for the second half of 2025. The data shows that the downward trend from the extreme post-Covid levels continues.