TwentyFour Blog | Read | 2 min 8 Jun 2023 European consumers not expecting a hard landing What have we learnt from the ECB’s Consumer Expectations Survey? Felipe Villarroel discusses how latest changes in the consumer’s expectations of the economy reflect that the ECB’s monetary policy is actually working. Read more
TwentyFour Blog | Read | 4 min 1 Jun 2023 US debt - stuck in a vicious cycle In recent weeks the US debt ceiling has been dominating headlines with investors focused on the imminent threat of a US default which would be extremely unnerving for global markets. Johnathan Owen looks at the wider implications facing the US economy. Read more
TwentyFour Blog | Read | 3 min 27 Apr 2023 European banks continue to deliver, on earnings and calls As earnings season kicks off in Europe, Eoin Walsh looks at what impact, if any, recent volatility in the banking sector has had on European banks. Read more
TwentyFour Blog | Read | 3 min 17 Jan 2023 First results from great QT experiment are positive With many market participants fearing the impact of quantitative tightening (QT), Johnathan Owen looks at one central bank’s early experience of actively selling bonds to investors. 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 | 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 | 3 min 1 Nov 2022 UK risk premium looks too steep with stability restored With Rishi Sunak and Jeremy Hunt leading a more fiscally conservative UK government, Johnathan Owen checks in on sterling asset valuations and argues the UK premium is overcompensating for underlying risks. Read more
TwentyFour Blog | Read | 2 min 23 Jun 2022 Will high yields stay high? For all of these observations, there is one common observation – yields did not stay at these high levels for very long. Read more
TwentyFour Blog | Read | 2 min 24 May 2022 What has driven yields higher – rates or credit? With investors having endured a painful period of rising yields in 2022, Mark Holman looks at whether rates weakness or credit spread widening has been most to blame. Read more
TwentyFour Blog | Read | 4 min 19 May 2022 Just how healthy is the consumer? Consumers are being hit from seemingly all angles at the moment. Higher interest rates are coming, higher inflation is already hitting their pockets hard and economic growth is expected to slow. Read more
TwentyFour Blog | Read | 3 min 16 May 2022 Even in recession, defaults will be lower than previous cycles The vast majority of the high yield universe used the attractive funding conditions last year to term out their maturity profiles. In fact, 2022 maturities in both US and European high yield equate to just 1% of their respective indices. Read more