19 Jan 2023 Market Update Investment Grade Quarterly Update – January 2023 TwentyFour AM portfolio manager Jack Daley discusses Q4 performance for Investment Grade markets and provides his outlook for 2023. Watch now
18 Jan 2023 TwentyFour Blog 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. Read more
17 Jan 2023 TwentyFour Blog First results from great QT experiment are positive With many market participants fearing the impact of quantitative tightening (QT), Johnathan Owen looks at one central bank’s early experience of actively selling bonds to investors. Read more
12 Jan 2023 TwentyFour Blog AroundTown: bad call (again) After shocking investors in November by floating the idea of deferring its hybrid coupons, AroundTown has begun 2023 in similar fashion with a senior bond tender, says Pierre Beniguel. Read more
3 Jan 2023 TwentyFour Blog 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. Read more
8 Dec 2022 TwentyFour Blog AroundTown: bad call In our latest blog, Pierre Beniguel looks at the implications of AroundTown’s corporate hybrid non-call and the shock announcement that it will also consider deferring coupon payments. Read more
6 Dec 2022 TwentyFour Blog 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 Read more
22 Nov 2022 TwentyFour Blog Highest starting yields since ‘08 predict strong five-year returns Chris Bowie explains why he believes analysing starting yields can explain improved returns over the next five years Read more
17 Nov 2022 Market Update Are short term bonds the ‘best game in town’? With investors caught between inflation and recession, Chris Bowie argues current valuations in short term, investment grade bonds can offer portfolios both downside protection and attractive yields. Read more
15 Nov 2022 TwentyFour Blog Reasons to be constructive on extension risk Telefonica’s reopening of the corporate hybrid market is further evidence that large issuers with proven track records and strong financials will call their bonds even if it looks uneconomic to do so, says Johnathan Owen. Read more
8 Nov 2022 TwentyFour Blog Healthy premiums drive big day for primary markets With well over €10bn of new bonds sold by European banks and corporates on Monday, Felipe Villarroel analyses the pricing and looks at the patterns that usually emerge when primary markets reopen. Read more
1 Nov 2022 TwentyFour Blog UK risk premium looks too steep with stability restored With Rishi Sunak and Jeremy Hunt leading a more fiscally conservative UK government, Johnathan Owen checks in on sterling asset valuations and argues the UK premium is overcompensating for underlying risks. Read more