Flash Fixed Income: Is term premium back?
Since the Federal Reserve first cut interest rates in September, we have seen the most aggressive rise in US Treasury yields of any cutting cycle over the past 40 years.
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TwentyFour
Tracking Trump’s tariffs
Markets had their first taste of Trump Tariffs 2.0 on Monday after levies on Mexican, Canadian and Chinese exports were announced over the weekend.
Fed and ECB meetings point to divergence in paths
Federal Reserve (Fed) chair Jerome Powell had the honour of kicking off the 2025 season for the major central banks this week, swiftly followed by the chore of having to plead the fifth every time he was asked about a President Trump policy.
CLO popularity growing but secondary could offer better value
It has been two weeks since the primary market for collateralised loan obligations (CLOs) re-opened and 2025 has already proven to be quite a year from multiple angles.
Tariffs are the noise. Housing is the signal.
Much of the discussion around inflation over the past few months has centred on the potential for US tariffs, a focus that has only intensified following Donald Trump’s inauguration.
Asset-Backed Securities Quarterly Update – January 2025
As the fourth quarter of 2024 comes to a close, TwentyFour Asset Management’s Douglas Charleston reflects on the past year’s events and explains why, in his view, the record supply of European ABS and CLOs in 2024 is likely to be matched in 2025.
Investment Grade Quarterly Update – January 2025
In what has been a busy start to 2025, TwentyFour Asset Management’s Gordon Shannon looks back on the final quarter of 2024.
Multi-Sector Bond Quarterly Update – January 2025
It has been a busy year in fixed income markets, with Q4 2024 proving to be a pivotal period marked by significant global events, including the US election. TwentyFour Asset Management’s Eoin Walsh looks at the path for interest rate cuts in 2025.
Corporate sector on solid ground entering 2025
One of the key reasons we see credit continuing to outperform government bonds over the medium term is corporate fundamentals.
Flash Fixed Income: Three big themes for 2025
Will volatility in government bonds continue? Has fixed income seen “peak ESG”? And what will be the biggest driver of returns?
Q1 2024 déjà vu as inflation data soothes rates sell-off
Global rates markets rallied sharply on Wednesday after fixed income investors received some long-awaited good news in the shape of Consumer Price Index (CPI) data for December, which came in below consensus in both the US and the UK.
Servicers key as UK rates put pressure on pre-crisis RMBS
Last week Fitch Ratings published a report concerning asset performance deterioration in UK residential mortgage-backed securities (RMBS) originated prior to the global financial crisis (GFC).