14 May 2025 Flash Fixed Income Flash Fixed Income: Are markets complacent on tariff risks? The question for investors now is how much of the macro risk remains, and how well that risk is being reflected in asset valuations. Read more
28 Apr 2025 TwentyFour Blog Lottomatica reopens high yield for right names The high yield bond market reopened in Europe last week after a three-week hiatus triggered by the US tariffs fallout. Aside from a private placement by Very Group on April 10, the last public European high yield deal was from UK homebuilder Miller Homes on March 31, so we were interested to see how the first post-tariffs deal would be received. Read more
21 Jan 2025 TwentyFour Blog Corporate sector on solid ground entering 2025 One of the key reasons we see credit continuing to outperform government bonds over the medium term is corporate fundamentals. Read more
20 Jan 2025 Flash Fixed Income Flash Fixed Income: Three big themes for 2025 Will volatility in government bonds continue? Has fixed income seen “peak ESG”? And what will be the biggest driver of returns? Read more
13 Jan 2025 TwentyFour Blog How do higher Gilt yields impact banks and insurers? Last week’s rise in UK government bond yields prompted the bonds of UK financial institutions, both banks and insurers, to underperform other regions, a trend also seen in the equity market. Read more
9 Jan 2025 TwentyFour Blog Gilt yields gap higher We saw a sell-off across the UK Gilt curve on Wednesday with yields rising by 4bp at the short end and 11bp at the long end. This took the 10-year Gilt to 4.80% and the 30-year Gilt to 5.35%, with the latter bringing the unwelcome headline that UK borrowing costs are at their highest since the last century. Read more
13 Dec 2024 Flash Fixed Income Flash Fixed Income: Credit correction coming? Spread tightening has left some market participants nervous about fixed income valuations going into 2025, but we think the drivers of recent credit performance are unlikely to weaken materially in the coming months. Read more
10 Dec 2024 TwentyFour Blog Fixed Income 2025: Yields trump possibility of spread correction With a macro backdrop of falling rates and solid global growth, TwentyFour Asset Management's Eoin Walsh says fixed income investors can expect healthy total returns in 2025. Read more
31 Oct 2024 Market Update Why the macro outlook is tilted in fixed income’s favour With elevated yields and inflation expected to come back to target, we think investors can target a level of real return that was extremely difficult to achieve in the previous cycle. Read more
21 Oct 2024 TwentyFour Blog European High Yield funds post record inflows amid buoyant investor demand A lot has happened since our last blog about the state of affairs in the European High Yield (HY) market. At the time, the sector had just seen three of the largest capital structures of Altice France, Ardagh Group and Intrum AB announce restructuring advisors in quick succession, with growing fears that it would represent the start of a wider default trend. Read more
26 Jun 2024 Outlook Euro banks well prepared as Basel marathon enters final stretch The global financial crisis was a seismic shock to banking systems globally, and triggered a regulatory marathon with banks having to adapt to a far stricter set of rules (known as Basel III) set out by the Basel Committee on Banking Supervision (BCBS). Read more
2 May 2024 Event Replay The duration deliberation - to extend or not to extend? On this webinar, Chris Bowie (Partner, Portfolio Management) provided a macro update on fixed income markets and how these views are reflected in the positioning of our short-dated funds. Watch now