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  • What are AT1 bonds, and how do they work?
  • Credit Suisse’s chunky coupon a sign of the times
  • What has driven yields higher – rates or credit?
  • Has inflation peaked? Ask the housing market.
  • CLOs have the fundamentals to absorb recession
  • Value has returned to AAA CLOs
  • Just how healthy is the consumer?
  • Global ABS: A cloudy outlook from sunny Barcelona
  • ABS spreads are pricing in a lot of downside
  • BB CLOs approaching 12% yield

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    We are an asset management company and we specialise in fixed income, nothing else. This fixed income specialist focus means that all our resources and people are managing one asset class with no distractions.

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    Low issuance – a sign of strong fundamentals?
    The US high yield market has experienced the third lightest month in terms of new issue flows since the Global Financial Crisis. Chris Holman explains what this means for default rates going into the second half of the year.

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Insights Topic

Investment Grade

Can investment grade be a safe harbour in stormy markets?
TwentyFour Blog | Read | 3 min 28 Jun 2022 by Johnathan Owen

Can investment grade be a safe harbour in stormy markets?

At this stage in the economic cycle investors may need to think about ways to protect their portfolios while providing strong relative value. Johnathan Owen explains why short dated investment grade can offer exactly that in his latest blog.

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Value has returned to AAA CLOs
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.

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What has driven yields higher – rates or credit size
TwentyFour Blog | Read | 2 min 24 May 2022 by Mark Holman

What has driven yields higher – rates or credit?

With investors having endured a painful period of rising yields in 2022, Mark Holman looks at whether rates weakness or credit spread widening has been most to blame.

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Return of bond-equity correlations could offer respite for investors
TwentyFour Blog | Read | 2 min 13 May 2022 by Eoin Walsh

Return of bond-equity correlations could offer respite for investors

The broad-based sell-off that has faced investors since the start of this year has been all the more painful because of the breakdown in traditional correlations, which has put conventional hiding places out of reach.

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Investment Grade Quarterly Update – April 2022 Teaser
Market Update | Watch | 5 min 13 Apr 2022 by Gordon Shannon

Investment Grade Quarterly Update – April 2022

TwentyFour Partner and Portfolio Manager, Gordon Shannon, describes the developments of the investment grade strategy in Q1 2022.

Watch now

The evidence doesn’t point to recession
TwentyFour Blog | Read | 3 min 25 Mar 2022 by Felipe Villarroel

The evidence doesn’t point to recession

Growth in 2022 is likely to be above historical averages for most developed economies, even after adjusting forecasts for the impact of the Russian invasion.

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Wave of inflation means companies will sink or swim on pricing power
TwentyFour Blog | Read | 4 min 17 Mar 2022 by Gordon Shannon

Wave of inflation means companies will sink or swim on pricing power

Soaring inflation was already a dominant theme for markets coming into 2022. The sanctions imposed on Russia in response to its invasion of Ukraine have only exacerbated its expected rise, and pushed its expected peak further out.

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Steady Fed makes short end look attractive
TwentyFour Blog | Read | 2 min 21 Feb 2022 by Gary Kirk

Steady Fed makes short end look attractive

Escalating geopolitical tensions have contributed to a volatile past week for investors, but uncertainty regarding central bank action continues to dominate the bond markets, with one investment bank now predicting nine straight hikes from the Fed beginning at its March meeting.  

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Buyers blunt BoE’s bond bombshell
TwentyFour Blog | Read | 3 min 10 Feb 2022 by Johnathan Owen

Buyers blunt BoE’s bond bombshell

Last week investors were faced with a double whammy of monetary tightening from the Bank of England (BoE), which on Thursday hiked interest rates by 25bp and announced the gradual unwind of its £20bn corporate bond portfolio.

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Market Update | Read | 5 min 8 Feb 2022 by Gordon Shannon

Why central bank policy errors should be top of your 2022 worry list

With inflation soaring and the economic recovery looking more fragile, we look at three famous central bank policy errors to demonstrate why they can be so dangerous for investors, and consider how a fixed income portfolio can be strengthened against the risk.

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Making sense of corporate bond softness
TwentyFour Blog | Read | 3 min 7 Feb 2022 by George Curtis

Making sense of corporate bond softness

After a challenging January, which saw markets beginning to come to terms with a very hawkish Fed pivot and rising Russia-Ukraine tensions, it is worth taking stock of the moves we have seen in fixed income over the last few weeks.

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Investment Grade Quarterly Update – January 2022 Teaser
Market Update | Watch | 3 min 24 Jan 2022 by Gordon Shannon

Investment Grade Quarterly Update – January 2022

TwentyFour Partner and Portfolio Manager, Gordon Shannon, discusses how the investment grade strategy has performed in Q4 2021 and provides his outlook for the new year.

Watch now

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