Credit exposure should be smart and short in 2022
Fundamentally the outlook for 2022 appears less supportive than it was 12 months ago.
Insights Topic
Europe
The Rodney Blog 2022: Policy, economy and markets must converge
What we are currently experiencing is a disconnect between monetary policy, the economy and the markets, a disconnect that in our view will struggle to survive much longer.
How swaps can reduce rates risk as we move towards tightening
With rising government bond yield curves one of the biggest concerns for fixed income fund managers going into 2022, Eoin Walsh points to interest rate swaps as one option for reducing the rates risk of a portfolio without impacting its credit exposure.
2022 outlooks could make for a sobering December
This week the team at TwentyFour have been busy compiling our 2022 fixed income outlook, which will be published next week. There is no doubt we are confronted with a challenging set of circumstances, which will provide investors – not just in fixed income – with headwinds in the year ahead, and in particular we think during the first half.
European ABS: yield, inflation protection, and sustainability
In fixed income today there are three market forces becoming ever more prominent.
Santander leading the way in consumer ABS
Marko Feiertag take a closer look at Santander’s latest consumer ABS transaction, which attracted strong demand despite being increased to a bumper €1.5bn in size.
Investor Nervousness Priced In?
Fixed income markets have experienced a reasonable correction over recent weeks and, for higher-yielding indices at least, their first negative period so far this year.
Navigating The New Bond Volatility
This looks to us like a buy-into-the-dip opportunity, but investors should be wary of taking on too much rate sensitivity as the move in risk-free curves is likely to persist until the rate hike cycle is actually on the way.
Why BoE Hiking First May Be Best for Bonds
In the last month, global government bond curves have had a torrid time, with significant steepening seen across US Treasury, UK Gilt and German Bund yields.
Credit Backdrop Shows More Upside for Euro High Yield
Despite the impressive returns of Euro HY over the last year or so, the backdrop for the asset class continues to suggest there is more upside to come.
Labour Support Tapering Need Not Be Feared
Douglas Charleston examines the health of labour markets across key developed economies and why ABS investors shouldn’t fear the gradual removal of COVID related job support schemes
What's Happened to the Brexit Premium?
There has been a lot of focus on the performance of the high yield markets since the start of the year, particularly in Q1 when many rates markets were selling off aggressively.