12 Jan 2023 TwentyFour Blog AroundTown: bad call (again) After shocking investors in November by floating the idea of deferring its hybrid coupons, AroundTown has begun 2023 in similar fashion with a senior bond tender, says Pierre Beniguel. Read more
10 Jan 2023 TwentyFour Blog Fed still on narrow path to soft landing Recent employment data suggests the US economy may escape with a soft landing, a welcome boost to market sentiment in the early days of 2023, says Eoin Walsh. Read more
9 Jan 2023 TwentyFour Blog Are storm clouds gathering over the UK housing market? Part two… In the second instalment of a two-part blog on the UK housing market, Shilpa Pathak stress tests UK RMBS to determine how high mortgage defaults would have to get before bondholders are impacted. Read more
5 Jan 2023 TwentyFour Blog Is pricing AT1s to call back in vogue? With the reopening of primary bond markets in Europe being met with strong demand, the AT1 market is seeing an overdue shift away from pricing to perpetuity, says Eoin Walsh Read more
3 Jan 2023 TwentyFour Blog 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
8 Dec 2022 TwentyFour Blog 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
7 Dec 2022 TwentyFour Blog 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
6 Dec 2022 TwentyFour Blog 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
5 Dec 2022 TwentyFour Blog 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
2 Dec 2022 TwentyFour Blog 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
1 Dec 2022 TwentyFour Blog 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
22 Nov 2022 TwentyFour Blog Highest starting yields since ‘08 predict strong five-year returns Chris Bowie explains why he believes analysing starting yields can explain improved returns over the next five years Read more