5 Jun 2024 TwentyFour Blog Bank analysis takes more than one ratio We do not usually comment on press articles, but we were all quite surprised to read a piece on Bloomberg titled “A fragile banking system won’t make Europe stronger”. Read more
31 May 2024 TwentyFour Blog In the spotlight: European Parliament election When market participants were asked at the end of last year to enumerate the main risks investors would face in 2024, the vast majority of those surveyed counted politics and elections amongst the top factors to consider for the unrewarding task of forecasting total returns for major asset classes over the following twelve months. Read more
23 May 2024 TwentyFour Blog ABS and CLOs break 2.0 issuance records The European asset-backed securities (ABS) market saw a record issuance last week with €5bn of primary issuance. Read more
14 May 2024 TwentyFour Blog What's instore for the CPI release? The most important event this week is likely to be this Wednesday’s US Consumer Prices Index (CPI) release. Read more
7 May 2024 TwentyFour Blog Don't miss out on scarcity premium in AT1s The first four months of this year have seen €11.6bn in gross Additional Tier 1 (AT1) issuance from European banks, across euros, dollars and sterling markets. Read more
25 Apr 2024 TwentyFour Blog Don't forget about money supply measures M1 and M2 Money supply measures such as M1 and M2 enjoyed a relatively brief period of fame and glory just after the pandemic. Read more
24 Apr 2024 TwentyFour Blog Small miss for Enel, big step for the sector Following yesterday’s release of Italian energy company Enel's 2023 annual sustainability report, it was confirmed that they had failed to meet the emissions reduction key performance indicator (KPI) linked to a number of their sustainability linked bonds (SLBs). Read more
18 Apr 2024 TwentyFour Blog Volatility resurfaces this week Volatility made an unwanted come back this week. A combination of rising tensions in the Middle East, strong Consumer Price Index (CPI) and labour market data in the US in previous days, and markets that looked somewhat expensive in certain sectors, all conspired to cause a widening in spreads and a correction in equity prices. Read more
11 Apr 2024 TwentyFour Blog CPI surprises again on the upside The US Consumer Price Index (CPI) surprised on the upside for the third month in a row. There was nowhere to hide in the release with a majority of sub categories and sub aggregates posting worse numbers than expected. Read more
9 Apr 2024 TwentyFour Blog Thames Water – A fluid situation We previously blogged about Thames Water in July last year but it’s rapidly refloated to the top of UK credit market concerns. Following more recent events, where do we think Thames Water go from here? Read more
4 Apr 2024 TwentyFour Blog Bumps in the road but CLOs delivered in Q1 After delivering a stunning 2023, collateralised loan obligations (CLOs) were once again one of the top performers in Q1. That leaves us with the question, where do we go from here? Read more
20 Feb 2024 TwentyFour Blog The UK’s data rollercoaster: recession confirmed, inflation eases, and consumers rebound Last week's data deluge from the UK painted a mixed picture for the economy, offering insights into inflation, growth, and the possible path for interest rates. Read more