TwentyFour Blog | Read | 1 min 20 Jun 2022 by Dillon Lancaster Credit Suisse’s chunky coupon a sign of the times After 18 months of difficult headlines Credit Suisse could ill afford more negative press, and we therefore welcomed its decision to refinance its 7.125% Additional Tier 1 (AT1) bond last week at its first call date. Read more
TwentyFour Blog | Read | 2 min 1 Jun 2022 by Dillon Lancaster AT1 issuance offers optimism for credit investors The past couple of weeks have seen a flurry of new issuance as rates and credit markets have stabilised, and the European summer lull is approaching fast. Read more
TwentyFour Blog | Read | 2 min 11 Apr 2022 by Dillon Lancaster Rationality will win out for AT1s in the real world Despite the ECB's recent review bringing some previously debated points surrounding AT1s to the forefront, we believe any changes would create undesired, real-world consequences if implemented. Read more
TwentyFour Blog | Read | 2 min 30 Mar 2022 by Mark Holman Deutsche Bank lures CoCo investors The reshaping of Deutsche Bank since the end of the global financial crisis has been one of the longest-running transformation stories in the banking sector. Read more
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 | 2 min 3 Mar 2022 by Mark Holman Investors are overreacting to banks’ Russia exposure European bank equity has been among the hardest hit sectors since Russia’s invasion of Ukraine, as fears of losses and a flight to quality have prompted investors to change positioning. 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
Market Update | Read | 5 min 20 Jan 2022 by Mark Holman Three strategies for beating inflation with bonds Inflation was the dominant theme across financial markets in 2021, and we think it is likely to be a big driver of returns again in 2022. Read more
TwentyFour Blog | Read | 2 min 14 Dec 2021 by Gary Kirk UK banks pass the solvency test As bondholders, we are comforted by all the banks passing such a severe test. Read more
Event Replay | Watch | 14 min 22 Sep 2021 by David Norris Charlene Malik Pierre Beniguel George Curtis Insights from the Multi Sector team - Fixed Income Festival 2021 TwentyFour Asset Management's annual conference took place virtually for the second year running on September 15 & 16, with hundreds of attendees tuning in live for interactive sessions with TwentyFour's portfolio management team. All the insights from the Multi-Sector team are now available Watch now
TwentyFour Blog | Read | 2 min 28 Jul 2021 by Gary Kirk Bank Balance Sheets Continue to Strengthen We agree that banks are sitting with an abundance of excess capital and will use some of it to repay shareholder support. However, capital buffers will remain elevated for some time to come, Read more
Market Update | Watch | 27 min 13 May 2021 by Eoin Walsh Multi-Sector Bond Q2 2021 Update In TwentyFour's Multi-Sector Bond update on Thursday 13th May 2021, Partner & Portfolio Manager Eoin Walsh provided an update on investment themes and positioning in the fixed income market. Watch now