All insights

Deposit outflows at Silicon Valley Bank raise concerns over lending quality and mark-to-market losses, but is this a wider issue for the global banking sector?

As we approach the end of the economic cycle, tighter documentation is becoming increasingly important in providing downside protection against credit and extension risk of CLOs, says Pauline Quirin.

March 6, 2023, marks the 10th anniversary of the TwentyFour Income Fund (TFIF) being listed on the London Stock Exchange with a £150m capital raise.

February was a nasty throwback to the sort of market conditions that battered fixed income in 2022, but the pull-back has given anyone worried they’d missed the January rally an even better opportunity, says Charlene Malik.

European ABS proved to be a valuable allocation for fixed income investors last year and we think the asset class looks to be even stronger in 2023, with rates and spreads combining to create an attractive income landscape. 

With banks tightening lending criteria in the US, Felipe Villarroel explains why macro trends like this will have more influence on the Fed’s thinking than the recent strong jobs data when it comes to the path for monetary policy.

With 2023’s rally halted by the Fed’s hawkish messaging, Felipe Villarroel questions whether markets read the recent jobs data correctly and looks at what it means for terminal rate expectations.

Portfolio managers Chris Bowie and Jack Daley provide an update on the TwentyFour Corporate Bond Fund.

While corporate fundamentals are expected to deteriorate as rate hikes hit the economy, many metrics are pointing to record strength in the European high yield space, says George Curtis.

With UK consumers holding on to more of their pandemic-era savings than their US counterparts, Felipe Villarroel looks at what it means for bond investors.

With commercial real estate continuing to suffer the effects of the COVID pandemic and inflation, Elena Rinaldi looks at one CMBS transaction highlighting the challenges facing the asset class.

With risk assets rallying hard in the early weeks of 2023, Chris Holman reviews fundamentals in high yield bonds to see if recent performance has left any value in the market.