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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

High Yield Bonds

TwentyFour Blog | Read | 1 min 2 Mar 2023

February pull-back widens the entry point for fixed income

February was a nasty throwback to the sort of market conditions that battered fixed income in 2022, but the pull-back has given anyone worried they’d missed the January rally an even better opportunity, says Charlene Malik.

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TwentyFour Blog | Read | 2 min 20 Feb 2023

High yield data shows buffer in corporate balance sheets

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.

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TwentyFour Blog | Read | 2 min 14 Feb 2023

UK consumer caution bad for growth, but good for bonds

With UK consumers holding on to more of their pandemic-era savings than their US counterparts, Felipe Villarroel looks at what it means for bond investors.

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Fundamentals suggest more upside for high yield bonds
TwentyFour Blog | Read | 4 min 7 Feb 2023

Fundamentals suggest more upside for high yield bonds

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.

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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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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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Time to extract Europe’s elevated bond spreads
TwentyFour Blog | Read | 3 min 18 Jan 2023

Time to extract Europe’s elevated bond spreads

With projections for European growth and inflation being hastily revised in early 2023, the region’s bonds are still paying investors a premium that may not be around for long, says Dillon Lancaster.

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High starting yields to boost IG demand
TwentyFour Blog | Read | 1 min 3 Jan 2023

High starting yields to boost IG demand

With fixed income starting yields at their highest level for a decade, George Curtis expects increasing demand for investment grade bonds to boost the market as we enter 2023.

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TwentyFour Blog | Read | 15 min 6 Dec 2022

The Rodney Blog 2023: A return to returns

In our annual ‘Rodney Blog’, Eoin Walsh says that with rates now offering both yield and downside mitigation, and credit yields at near-decade highs, fixed income investors could enjoy strong returns in 2023

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Credit quality deterioration is inevitable
TwentyFour Blog | Read | 4 min 9 Nov 2022

Credit quality deterioration is inevitable

Credit metrics will continue to deteriorate in the next year or two, but European high yield bonds in particular are pricing in too severe a downturn, says Mark Holman

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Has the UK risk premium gone too far?
TwentyFour Blog | Read | 4 min 14 Oct 2022

Has the UK risk premium gone too far?

With some UK bank bonds now trading with higher yields than their counterparts in Turkey, Mark Holman questions whether the dumping of UK and sterling assets has gone too far.

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Default risk still subdued despite escalating energy crisis
TwentyFour Blog | Read | 3 min 8 Sep 2022

Default risk still subdued despite escalating energy crisis

While economic uncertainty in Europe is building, the healthy cash balances and low refinancing needs of Europe’s high yield bond issuers make a spike in defaults unlikely, says George Curtis.

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