Waller vs Warsh: Finding the Fed’s strike zone
New Federal Reserve Chair Kevin Warsh’s reluctance to define a clear “strike zone” for forward guidance has put him increasingly at odds with Governor Christopher Waller.
Insights Topic
Multi-Sector Bonds
Warsh finally gives markets much needed clarity
Kevin Warsh’s Jackson Hole speech went a long way, in our view, towards restoring some much-needed credibility to the Federal Reserve’s (Fed’s) reaction function and its commitment to the dual mandate.
US life insurers feel private credit scrutiny
A series of recent developments has put US life insurers with significant private-credit linkages under greater regulatory and investor scrutiny. While we believe this could create pressure for some US names, we see limited evidence that the concerns are spilling over into European life insurers.
US Treasury intervention unlikely to provide lasting support
The US Treasury Department surprised markets yesterday afternoon by announcing an increase in its buyback operations, which will “at least double” to $4bn, from 9 September to 4 November.
Resilient Q2 growth underpins credit strength for the rest of the year
The last couple of weeks have been busy on the GDP front with a few countries reporting Q2 growth numbers.
European financials remain strong after Q2 earnings
As we approach the end of the reporting season for European financials, including banks and insurers, Q2 2026 has proven to be another strong quarter, with most reported earnings coming in ahead of consensus and several banks upgrading their already ambitious profitability guidance for the year.
What happens when Fed credibility comes under pressure?
The latest Federal Open Market Committee (FOMC) meeting left a strange taste on investors' mouths. In our view, Chair Kevin Warsh failed to clarify the Federal Reserve’s (Fed's) reaction function and the central bank’s views on the current economic picture and relating to monetary policy.
Can Warsh get markets to play the ball, not the referee?
Federal Reserve (Fed) Chair Kevin Warsh hosted his second Federal Open Market Committee (FOMC) meeting this week, with most people, including ourselves, expecting a hawkish hold.
Data centre debt: Navigating shifts in sentiment
Data centres are becoming increasingly important in credit markets, as accelerating artificial intelligence (AI) adoption and continued growth in demand for cloud solutions drive significant capital expenditure (capex) needs.
The three pillars of Multi-Asset Credit at TwentyFour
The TwentyFour Multi-Asset Credit (MAC) strategy aims to maximise returns by allocating to a broad range of sectors across the global credit markets and dynamically targeting what it considers the optimum mix of credit assets as economic conditions change across the market cycle.
Portfolio Insights: Multi-Sector Bond – July 2026
TwentyFour Asset Management’s Diva Bashay reflects on a quarter which tested market sentiment through geopolitical tensions, shifting interest rate expectations and UK political developments.
Can the bond market digest AI hyperscaler supply?
Another week, another hyperscaler deal. Market participants have by now become accustomed to the steady flood of issuance from the large tech players as they look to build out their Artificial intelligence (AI) infrastructure to manage the ever-increasing demands for compute