TwentyFour Blog | Read | 1 min 3 Jan 2023 High starting yields to boost IG demand With fixed income starting yields at their highest level for a decade, George Curtis expects increasing demand for investment grade bonds to boost the market as we enter 2023. Read more
TwentyFour Blog | Read | 3 min 8 Dec 2022 AroundTown: bad call In our latest blog, Pierre Beniguel looks at the implications of AroundTown’s corporate hybrid non-call and the shock announcement that it will also consider deferring coupon payments. Read more
TwentyFour Blog | Read | 2 min 7 Dec 2022 Nationwide deal highlights surge in ABS interest and income Higher rates mean the income available on AAA RMBS bonds is eight times what it was at the start of this year, and growing demand for this floating rate asset class is clear, says Kevin Law. Read more
TwentyFour Blog | Read | 15 min 6 Dec 2022 The Rodney Blog 2023: A return to returns In our annual ‘Rodney Blog’, Eoin Walsh says that with rates now offering both yield and downside mitigation, and credit yields at near-decade highs, fixed income investors could enjoy strong returns in 2023 Read more
TwentyFour Blog | Read | 2 min 5 Dec 2022 What everyone is talking about in Switzerland UBS announced a call of its low-reset 5% Additional Tier 1 (AT1) notes on Monday, showing call risk in the AT1 sector isn’t just a matter of economics, says Dillon Lancaster. Read more
TwentyFour Blog | Read | 3 min 2 Dec 2022 Are storm clouds gathering over the UK housing market? Part one… In the first of a two-part series on the UK housing market, Shilpa Pathak looks at the experience of previous recessions and argues fundamentals today look far stronger than they did either in 2007 or the early 1990s Read more
TwentyFour Blog | Read | 3 min 1 Dec 2022 Labour market the driving force for the Fed Following Chairman Powell’s speech last night, George Curtis looks at what the latest labour market data means for the Fed’s war on inflation. Read more
TwentyFour Blog | Read | 4 min 15 Nov 2022 Reasons to be constructive on extension risk Telefonica’s reopening of the corporate hybrid market is further evidence that large issuers with proven track records and strong financials will call their bonds even if it looks uneconomic to do so, says Johnathan Owen. Read more
TwentyFour Blog | Read | 3 min 14 Nov 2022 Hint of cooling inflation can restore stability With a US inflation print finally coming in below expectations, can investors start to picture decent returns again? Or will this latest relief rally prove another false dawn? Read more
TwentyFour Blog | Read | 4 min 11 Nov 2022 ABS liquidity is there when you need it most With the UK pension fund liquidity crisis sparking heavy selling in ABS, Pauline Quirin looks at how the market absorbed all the supply, and which investors have stepped in sensing a buying opportunity. Read more
TwentyFour Blog | Read | 4 min 9 Nov 2022 Credit quality deterioration is inevitable Credit metrics will continue to deteriorate in the next year or two, but European high yield bonds in particular are pricing in too severe a downturn, says Mark Holman Read more
TwentyFour Blog | Read | 3 min 8 Nov 2022 Healthy premiums drive big day for primary markets With well over €10bn of new bonds sold by European banks and corporates on Monday, Felipe Villarroel analyses the pricing and looks at the patterns that usually emerge when primary markets reopen. Read more