8 Jan 2021 Market Update Q1 2021 Investor Update After a tumultuous 2020 which nonetheless delivered strong returns in many asset classes, fixed income investors are expecting a more normalised trading environment in 2021. Watch now
7 Jan 2021 Market Update More upside in bank capital Partner and portfolio manager Gary Kirk discusses why he thinks AT1s continue to look attractive in the search for yield. Read more
16 Dec 2020 TwentyFour Blog Distribution Support for AT1s Yesterday the ECB released their guidance to banks regarding shareholder distributions. They have reiterated that banks should exercise extreme moderation on variable remuneration (bonus payments) and have set limits for dividend payments to equity holders and prudence on any share buy-back schemes. Read more
25 Nov 2020 TwentyFour Blog More Upside for Bank Capital 2020 has not been an ideal year for those investors with a nervous disposition, as we have endured an unprecedented level of uncertainty soothed by an equally unprecedented level of monetary and fiscal stimulus Read more
23 Oct 2020 TwentyFour Blog Barclays Boosts Case for Bank Bonds Over Equity Barclays announced its results for the third quarter of 2020 this morning, with a number of media outlets opting to focus on a 6% year-on-year reduction in top-line income. Read more
8 Oct 2020 TwentyFour Blog More Noise Than Substance on UK Banks The press can have their sensational headlines, but these stories have little substance when it comes to the impact on the reputation risk of banks or indeed any significant impact on their balance sheets come May 2021. Read more
17 Sep 2020 Market Update Why we still like AT1s Gary Kirk, Partner and Portfolio Manager discusses Bank Capital, in particular, AT1s, and why this is a sector we like. Watch now
16 Sep 2020 Market Update Fixed Income Festival 2020 – Main stage TwentyFour CEO Mark Holman provides a macro outlook before discussing his views on a critical US presidential election and how it could impact the economy and the markets. Watch now
16 Sep 2020 Market Update Fixed Income Festival 2020 – MSB Breakout session Gary Kirk and Eoin Walsh hosted a breakout session on the MSB stage where they provided an update on portfolio performance and their outlook for fixed income markets. Watch now
7 Sep 2020 TwentyFour Blog Caixa-Bankia Talks a Step in Right Direction There are a number of countries in Europe where the banking sector remains very fragmented, and while a lot of work has been done in Spain with the mergers of multiple ‘cajas’ in the last few years, there is still scope for further consolidation. Read more
6 Aug 2020 TwentyFour Blog Optimism from the FPC As expected the Monetary Policy Committee (MPC) kept UK base rates at 0.1% and maintained their current level STG IG corporate bond on the BoE balance sheet at £745bn, with no immediate expectations of a need for further stimulus. Read more
30 Jul 2020 TwentyFour Blog Are Banks Becoming Less Cyclical? This week we are right in the middle of the European banks’ Q2 reporting period. Today for example we had results from a diverse group of Europe-listed banks, with Credit Suisse, BBVA, Lloyds and Standard Chartered all reporting. All have very different business models and footprints across varying geographies. Read more