TwentyFour Blog | Read | 3 min 29 Jun 2022 by Aza Teeuwen BB CLOs approaching 12% yield Aza Teeuwen explains how market moves have impacted BB CLOs and looks at historic trends analysing their behaviour during crisis scenarios. Read more
TwentyFour Blog | Read | 5 min 22 Jun 2022 by Aza Teeuwen Global ABS: A cloudy outlook from sunny Barcelona After two COVID-hit years last week the European ABS market decamped once again to Barcelona for the 26th annual AFME & IMN Global ABS conference. Read more
TwentyFour Blog | Read | 3 min 20 Jun 2022 by Douglas Charleston ABS spreads are pricing in a lot of downside In fast-moving markets there is no perfect time to provide an update on valuations. Read more
TwentyFour Blog | Read | 3 min 31 May 2022 by Aza Teeuwen Value has returned to AAA CLOs We can debate whether the European Central Bank is behind the curve or not, but Christine Lagarde says rates will be in non-negative territory by September. Read more
TwentyFour Blog | Read | 3 min 17 May 2022 by Elena Rinaldi CLOs have the fundamentals to absorb recession As inflation continues to outstay its welcome in the global economy, we have previously discussed the impact of rising input costs on corporates and how crucial pricing power can be in such a challenging environment. Read more
Market Update | Read | 7 min 26 Apr 2022 by Elena Rinaldi Everything you need to know about CLOs Collateralised Loan Obligations, or CLOs, are bond instruments issued to fund a specific pool of loans, typically senior secured or ‘leveraged’ loans, to companies. Read more
Market Update | Watch | 5 min 13 Apr 2022 by Elena Rinaldi Asset-Backed Securities Quarterly Update – April 2022 TwentyFour Portfolio Manager, Elena Rinaldi, explains how European ABS markets behaved in Q1 2022 and provides her outlook for the year ahead. Watch now
Market Update | Read | 8 min 10 Mar 2022 by Mark Holman Letter to investors Global bond markets have moved sharply in the wake of Russia’s invasion of Ukraine as investors have tried to assess the impact of an unprecedented raft of financial and economic sanctions. Mark Holman looks at the potential implications for inflation and growth, and highlights some areas of fixed income where yields have risen to near-crisis levels. Read more
TwentyFour Blog | Read | 3 min 11 Feb 2022 by Gary Kirk Managing the downturn As 2021 wore on we became increasingly concerned that the disconnect between asset prices, economic fundamentals and monetary policy was becoming more acute. Read more
TwentyFour Blog | Read | 3 min 2 Feb 2022 by Elena Rinaldi The CLO factory pauses for breath The first month of 2022 has passed, and it’s been quite a roller coaster for broader equity and credit markets, with volatility climbing to its highest level since January 2021. Read more
Market Update | Watch | 4 min 24 Jan 2022 by Douglas Charleston Asset-Backed Securities Quarterly Update – January 2022 TwentyFour Partner and Portfolio Manager, Douglas Charleston, explains how ABS markets have performed in Q4 2021 and provides his outlook for the new year. Watch now
TwentyFour Blog | Read | 4 min 21 Jan 2022 by Douglas Charleston European ABS: Five things to expect in 2022 If 2021 was a bad year for global bond returns, it follows there were few natural shelters to be found within fixed income from the brunt of inflation and rates-driven volatility; the Barclays Global Aggregate Index (a widely used broad measure of bond performance) returned -4.7% in USD terms, while European investment grade credit returned -1.1% despite credit spreads tightening over the course of the year. Read more