All insights
Widening spreads are not the only consideration for AT1 investors
Given the widening of spreads in Additional Tier 1 (AT1) bonds, in line with general spread widening across all of credit, the prospect of AT1s not being called on their first call date is beginning to generate a few headlines again.
Has inflation peaked? Ask the housing market.
Given inflation has been running hot for more than a year now, it was no surprise to see the recent dip in US data greeted with a muted sigh of relief across the markets.
AT1 issuance offers optimism for credit investors
The past couple of weeks have seen a flurry of new issuance as rates and credit markets have stabilised, and the European summer lull is approaching fast.
Value has returned to AAA CLOs
We can debate whether the European Central Bank is behind the curve or not, but Christine Lagarde says rates will be in non-negative territory by September.
How advanced is the current cycle?
The most important asset allocation decisions for global investors ought to originate by answering a seemingly simple question: Where in the cycle are we?
Food for thought from the Fed
The Federal Reserve minutes for meetings held on the 3-4th May were released last night, and for markets that have been beaten up by rates volatility, they provided some interesting takeaways.