8 Feb 2022 TwentyFour Blog What will turn this market around? For fixed income investors, the start to 2022 has been trickier than any we have experienced for many years, but we think this difficulty is to be expected and aligns with our macro view. Read more
7 Feb 2022 TwentyFour Blog Making sense of corporate bond softness After a challenging January, which saw markets beginning to come to terms with a very hawkish Fed pivot and rising Russia-Ukraine tensions, it is worth taking stock of the moves we have seen in fixed income over the last few weeks. Read more
29 Nov 2021 TwentyFour Blog 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. Read more
24 Sep 2021 TwentyFour Blog Stagflation – Probable or Panic? Our base case is for a continuation of quite high growth and a modest inflation overshoot. For bond investors, positioning for stagflation could be a dangerous trade if that base case bears out Read more
15 Sep 2021 TwentyFour Blog The Conditions for Tapering Already Exist With ample job openings, inflation well ahead of target, financial conditions that are certainly not tight and strong economic growth, the obvious question is what does the Fed need to see to finally start tapering its asset purchases? Read more
7 Sep 2021 TwentyFour Blog Credit Backdrop Shows More Upside for Euro High Yield Despite the impressive returns of Euro HY over the last year or so, the backdrop for the asset class continues to suggest there is more upside to come. Read more
2 Sep 2021 TwentyFour Blog How Much Supply is There to Come? This supply surge can be very welcome for those investors with cash to put to work, though it is also eyed with caution. Read more
5 Aug 2021 TwentyFour Blog Don’t Fight the Fundamentals on US High Yield When combined with other prevalent market dynamics, the favourable ratings trend paves the way for a highly supportive fundamental terrain as we advance through the cycle and one that is ideal for portfolio managers selecting credits. Read more
28 Jul 2021 TwentyFour Blog Bank Balance Sheets Continue to Strengthen We agree that banks are sitting with an abundance of excess capital and will use some of it to repay shareholder support. However, capital buffers will remain elevated for some time to come, Read more
21 Jul 2021 TwentyFour Blog A More Volatile Summer Ahead So far, lockdown restrictions have suppressed each wave of the virus; will the competent authorities have the conviction to see this latest wave through without erring on the side of caution once again? Read more
14 Aug 2019 Market Update Five tactics for late cycle investing The current US economic expansion is now the longest in modern history, and investors globally will be seriously contemplating the end of the credit cycle. This late-cycle period could prove particularly challenging. Mark Holman, chief executive of TwentyFour Asset Management presents five tactics for fixed income investing late in the credit cycle. Read more
14 Aug 2019 TwentyFour Blog Why The Inverted Curve is Not Good News Today marked the arrival of a long expected event, namely the inversion of the US yield curve between two and 10 years. This is an important event as historically it has been a very reliable indicator of impending recession. History tells us that once the 2s-10s curve inverts, on average a recession is a year to 18 months away. Read more