Fixed Income

The question for investors now is how much of the macro risk remains, and how well that risk is being reflected in asset valuations.

April was one of the most volatile months across financial markets in recent memory, triggered by President Trump’s sweeping tariff announcement on April 2. While much has been written about the geopolitical and economic implications, here we will focus on how equity, credit and rates markets have adjusted following what was a sharp sell-off and subsequent recovery.

TwentyFour Asset Management has expanded its offering with the launch of a new asset-backed finance (ABF) fund.

After a chaotic week in global markets following the tariffs announced by President Trump on April 2, at time of writing (April 10) investors are left to contemplate 125% tariffs on China, a baseline 10% on the rest of the world, 25% on auto imports and a 90-day pause on more punitive rates.

TwentyFour Income Fund Limited ("TFIF" or "the Company") announces a record balancing dividend and dividends totaling 11.07 pence for the full year to 31 March 2025.

President Trump’s tariffs have sparked a global sell-off across risk assets, and we expect markets to remain volatile in the short-term given the implications for the global economy.

While much of the focus in private credit has been on direct lending, Significant Risk Transfer (SRT) is emerging as a compelling alternative. What began as a regulatory tool is now gaining traction with a growing investor base, as banks look to optimise capital and issuance reaches record highs.

“Liberation Day” has landed, and not with a whimper. In extraordinary scenes in the Rose Garden of the White House, President Trump held up a board outlining the level of tariffs the US will impose on countries around the world, and in most cases they were worse than worst-case expectations.

TwentyFour Asset Management’s Eoin Walsh breaks down a turbulent first quarter for investors, driven by newly imposed Trump tariffs and shifting economic forecasts.

TwentyFour Asset Management’s Chris Bowie reflects on a politically eventful first quarter, its impact on European and US markets and what it could mean for investors going forward.

As the first quarter of 2025 concludes, TwentyFour Asset Management’s Pauline Quirin shares her take on the strong performance of the securitisation market and insights for European ABS and Collateralised Loan Obligations (CLOs).

Bondholder expectations are an important topic in the Additional Tier 1 (AT1) market. They are often perceived as a “soft” factor that is hard to quantify, and may often appear at odds with the purely economic considerations of the issuer when it comes to refinancing costs.