Fundamentally the outlook for 2022 appears less supportive than it was 12 months ago.

Having achieved every objective we set at December 2020’s EGM within the first six months of 2021, UKML’s portfolios are now producing a consistent level of income that is growing month by month

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.

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.

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 TwentyFour Advent Calendar is a collection of 24 statistics that tell the story of 2021 in fixed income.

In fixed income today there are three market forces becoming ever more prominent.

With environmental and social factors rightly growing in prominence in the field of ESG, TwentyFour portfolio manager Chris Bowie explains why governance should still matter to bond investors