Santander setting the pace in European ABS
Following the end of quantitative easing in 2023, the European ABS market has gone from strength to strength and 2025 is set to overtake the post-2008 new issuance record set in 2024.
Insights Topic
TwentyFour
Flash Fixed Income: Rate cuts won’t help long-dated bonds
With the Fed’s stance suggesting it is prioritising growth over sticky inflation risks, volatility in longer dated bonds is likely to persist and the case for increasing duration in fixed income is not compelling.
Fed rate cut does little for clarity on policy path
The Federal Reserve (Fed) cut interest rates by 25 basis points (bp) on Wednesday, exactly as markets had anticipated, marking its first rate reduction since December 2024.
Is there value in the troubled European chemicals sector?
As active managers we are naturally looking for bonds that we believe are mispriced, therefore offering attractive risk-adjusted carry or, sometimes, a capital gain if market pricing falls into line with our view. Equally important is to avoid sectors facing structural or protracted cyclical downturns where we don’t think valuations reflect the fundamentals.
How worrying is low job growth?
Job creation, or rather a lack of it, has been in the spotlight recently as weak non-farm payrolls data in the US has driven a rally in government bonds and strengthened market projections for rate cuts.
Government Deficits And Geopolitics Shift Risk Appetite For UK Investors
Optimism is returning to fixed income markets, yet UK institutional investors are recalibrating their strategies amid evolving global and domestic risks, according to TwentyFour Asset Management’s Fixed Income Investor Survey 2025.
TwentyFour Conference: Keynote presentation
Felipe Villarroel delivered the keynote address at TwentyFour Asset Management’s Annual Conference in London on September 9, 2025.
Are markets pricing in the threat to Fed independence?
The next few days could be pivotal to any concerns around the independence of the US Federal Reserve (Fed).
How will digital currencies impact banks?
The European Central Bank (ECB) is reportedly accelerating its work on a digital version of the euro (the dEuro), having seen the US pass the Genius Act in July which paved the way for broader adoption of so-called stablecoins.
Credit’s cash pile ready for September supply
We have long harked on about the strength of the technical in credit, with solid fundamentals, resilient inflows and defensive positioning continuing to provide a tailwind for the market.
Asset-backed finance: How does Europe stack up?
The $5.2tr asset-backed finance (ABF) market represents a growing opportunity to gain exposure to high quality loan pools and the returns they can generate.
Improving growth forecasts matter for markets
On Thursday, markets received preliminary Purchasing Managers’ Index (PMI) figures for August. As a reminder, PMIs are timely indicators of trends in manufacturing and services, with a number above 50 signalling an expansion and below 50 a contraction.