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  • Rules of the Game - from Swiss Finish to Finished
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  • Is the CLO whale back in the water?
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  • Are markets finally following the Fed?
  • CLO documentation provides downside protection to investors
  • February pull-back widens the entry point for fixed income

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    Rules of the Game - from Swiss Finish to Finished
    Swiss regulators' decision to bail out Credit Suisse equity holders while wiping out AT1 debtholders will see long-term effects on bank debt markets and likely legal action says Eoin Walsh

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Insights Topic

CLOs

TwentyFour Blog | Read | 3 min 9 Mar 2023

CLO documentation provides downside protection to investors

As we approach the end of the economic cycle, tighter documentation is becoming increasingly important in providing downside protection against credit and extension risk of CLOs, says Pauline Quirin.

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Is the CLO whale back in the water
TwentyFour Blog | Read | 2 min 6 Feb 2023

Is the CLO whale back in the water?

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.

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No, you haven’t missed the fixed income rally
TwentyFour Blog | Read | 3 min 2 Feb 2023

No, you haven’t missed the fixed income rally

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.

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Time to extract value from Europe’s bargain bonds
Market Update | Read | 7 min 31 Jan 2023

Time to extract value from Europe’s bargain bonds

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

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The compelling case for ABS in 2023
TwentyFour Blog | Read | 5 min 30 Jan 2023

The compelling case for ABS in 2023

Having done its job of delivering lower volatility and better performance than mainstream bond markets in 2022, the income and defensive characteristics of European ABS look equally compelling in 2023, says Doug Charleston.

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TwentyFour Blog | Read | 3 min 25 Jan 2023

Having your cake and eating it

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.

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New year, new mood as ABS supply ramps up
TwentyFour Blog | Read | 3 min 19 Jan 2023

New year, new mood as ABS supply ramps up

European ABS is enjoying a spurt of new issuance and a parallel rally in spreads, with investors having entered the new year with cash to invest and buoyed by renewed hope around inflation and monetary policy, says Pauline Quirin.

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Asset-Backed Securities Quarterly Update – January 2023
Market Update | Watch | 5 min 19 Jan 2023

Asset-Backed Securities Quarterly Update – January 2023

TwentyFour Partner and Portfolio Manager, Douglas Charleston, describes the developments of the ABS market in Q4 2022.

Watch now

ABS liquidity is there when you need it most
TwentyFour Blog | Read | 4 min 11 Nov 2022

ABS liquidity is there when you need it most

With the UK pension fund liquidity crisis sparking heavy selling in ABS, Pauline Quirin looks at how the market absorbed all the supply, and which investors have stepped in sensing a buying opportunity.

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Asset-Backed Securities Quarterly Update – October 2022
Market Update | Watch | 3 min 14 Oct 2022

Asset-Backed Securities Quarterly Update – October 2022

TwentyFour Partner and Portfolio Manager, Douglas Charleston, explains how ABS markets have performed in Q3 2022 and provides his outlook for the rest of the year.

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Where are CLOs trading after the Truss Tantrum?
TwentyFour Blog | Read | 3 min 5 Oct 2022

Where are CLOs trading after the Truss Tantrum?

With the higher rated tranches of euro CLOs popular with UK pension funds, Aza Teeuwen looks at how the market coped with heavy selling in recent days and notes investment grade CLO bonds are now yielding close to 10%.

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There is plenty more yield to come in floating rate bonds
TwentyFour Blog | Read | 4 min 8 Aug 2022

There is plenty more yield to come in floating rate bonds

Fixed rate bond yields may have climbed as markets priced in higher interest rates, but both existing and new investors in floating rate bonds have more to gain as central banks keep hiking, says Pauline Quirin

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