The TwentyFour Blog
Light at the end of the inventory tunnel
As we enter the third year of the pandemic, most market participants are asking themselves (once again) if this will be the year when supply chain issues finally abate.
Voting rights and the myth of future proofing documentation
As we enter the New Year, we say goodbye to an old “friend” that has accompanied us (for better and for worse) since the inception of the UK ABS market in the late 1980s – Sterling LIBOR.
Comprehending the latest Treasury spike
Given the swiftness of the Fed’s pivot we think risks are tilted towards the central bank doing more and not less. We wouldn’t even rule out a 50bp rate hike at some point.
FOMC: Hard to shake sense the Fed is behind the curve
Jerome Powell’s recent testimony to the Senate Banking Committee, in which he said the Fed would discuss a faster taper of its asset purchases at December’s FOMC meeting, has led to intense speculation that we could see a move this week.
UK banks pass the solvency test
As bondholders, we are comforted by all the banks passing such a severe test.
This is as good as it gets for linkers
Against a backdrop of 4.20% year-on-year UK consumer price inflation (CPI), if you got your timing right, linkers (inflation-linked UK government bonds) will certainly have outperformed conventional Gilts by some margin.
When will labour market strength JOLT Treasuries higher?
The labour market in the US shows little sign of weakening, despite the huge number of jobs already created this year.
Euro CLOs a top pick for 2022
Markets have clearly experienced some periods of volatility this year, and while European CLOs haven’t been immune to this, both fundamentals and prices have been remarkably stable.
EM looks very cheap, but patience a virtue
Emerging markets assets have endured a lot of punishment during 2021.
Where is the yield in floating rate bonds?
With floating rate assets likely to be high on investors’ shopping lists for 2022, Doug Charleston looks at the floating rate options across fixed income and highlights the highest yielding opportunities.
Credit exposure should be smart and short in 2022
Fundamentally the outlook for 2022 appears less supportive than it was 12 months ago.
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.