TwentyFour

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 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.

With Norinchukin Bank reportedly looking again at CLOs, Aza Teeuwen looks at the potential impact the return of the one of the market’s biggest buyers might have on spreads.

Strong performance across markets in January has left some investors feeling they’ve missed out on the rally in bonds. No need to worry, says Felipe Villarroel.

With inflation and rate hikes dominating markets in 2022, European ABS proved to be a valuable allocation for fixed income investors wishing to avoid unwanted yield curve related volatility.

When Wall Street’s army of analysts were publishing their outlooks for 2023 back in November, there was very little love for Europe.

As we enter 2023, we think there is good reason for fixed income investors to be positive. This is especially true in investment grade where issuers are typically higher quality, less leveraged and generally have a lower cost of funding than HY issuers.

TwentyFour Portfolio Manager, George Curtis, provides an update on the Multi-Sector teams current investment themes and macro outlook before looking at the performance and portfolio positioning of the Vontobel Fund – TwentyFour Strategic Income Fund.

While yields have soared in recent months and created a broad buying opportunity in fixed income, Aza Teeuwen says investors should look at floating rate bonds to benefit from higher coupons today.