4 Jan 2024 TwentyFour Blog Markets take a breather after a frenetic end to 2023 The solid end to 2023 for financial markets has influenced a positive start to 2024. Read more
21 Dec 2023 TwentyFour Blog European bank capital requirements – steady as it goes The ECB's annual SREP results revealed a resilient European banking sector. Jakub Lichwa discusses that despite facing headwinds in 2023, the overall scores for 106 institutions remained steady at 2.6, with 71% of these institutions maintaining their scores, while 15% showed improvement. Read more
12 Dec 2023 TwentyFour Blog Squeezed: The upshot of the Fed’s quantitative tightening program Following October’s encouraging US CPI report and the subsequent comments from Federal Reserve officials, financial markets now anticipate that the Fed has completed its rate hiking cycle having reached terminal rates. Read more
7 Dec 2023 TwentyFour Blog Fixed Income outlook 2024: strong returns ahead After a horrible year for financial markets in 2022, the macro-outlook for 2023 had a lot of consensus views, with most predicting a much better year ahead, helped by supportive rate cuts from central banks and positive returns from both government bonds and credit. Read more
5 Dec 2023 TwentyFour Blog First cut now in sight as interest-rate hikes come to an end The cuts are coming as the cycle of interest-rate hikes ends. In his latest blog, George Curtis discusses how falling inflation, weaker job reports, and signs of a European recession are reshaping expectations for interest rates. Read more
4 Dec 2023 TwentyFour Blog Ford’s upgrade helps the US high-yield market to motor Ford reclaims its investment-grade status after almost four years in high-yield territory. Chris Holman's latest blog reveals why this isn’t just a win for the car company and will have a positive impact on the entire US high-yield market. Read more
29 Nov 2023 TwentyFour Blog Shop till you drop? What the holiday season tells us about US consumer health As we dive into the festive season, recent retail sales hint at a mixed bag for US retailers. In his latest blog, David Norris tells us what it all means for the health of the consumer and guides us through the latest events. Read more
22 Nov 2023 TwentyFour Blog Overcoming the US maturity wall is not as fraught as the headlines suggest Despite concerns about a maturity wall, Chris Holman explains how research shows the high yield maturity profile in the US is less concerning. Overall, a focus on higher-rated bonds suggests a relatively healthy outlook for the primary market and a default rate in line with historical averages. Read more
13 Nov 2023 TwentyFour Blog US earnings season: What the micro tells us about the macro As earnings season ends, we take stock of the latest US results and what it tells us about the health of corporates, the consumer, and the outlook for the broader economy. Read more
2 Nov 2023 TwentyFour Blog A big week for US treasuries as the Fed holds rates steady George Curtis breaks down the latest developments following this week’s Quarterly Refunding Announcement and the Treasury Borrowing Advisory Committee update. Read more
13 Oct 2023 TwentyFour Blog Examined: the case for fixed income in a hard or soft landing Fixed income investors have gone through a stressful few weeks. Since the beginning of September, government bond yields have moved sharply higher, causing spreads to widen and returns to worsen across the board. Read more
11 Oct 2023 Market Update Speed is now of the essence in the bond markets After what can only be described as a relatively dire year for fixed income in 2022, during which spiralling inflation led to one of the most aggressive rate hiking cycles on record, we believe the market for bonds is now looking much healthier. Read more