14 Mar 2022 TwentyFour Blog Investors face conundrum on government bond allocations We think a base case that central banks will follow a more measured monetary policy path than markets are currently pricing in is reasonable given the current backdrop. Read more
9 Mar 2022 TwentyFour Blog Rising HY defaults more than priced in Default rate estimations depend on how you define defaults and what index you use, but there is no doubt we are at record lows in European high yield at the moment. Read more
27 Jan 2022 TwentyFour Blog Yields soften blow of Powell’s hard words Powell’s hard line may have surprised investors, particularly in light of recent market volatility and increasing geopolitical risk in Eastern Europe, but the Fed’s fear of prolonged higher inflation looks to be trumping those concerns. Read more
6 Jan 2022 TwentyFour Blog 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. Read more
14 Dec 2021 TwentyFour Blog UK banks pass the solvency test As bondholders, we are comforted by all the banks passing such a severe test. Read more
13 Dec 2021 TwentyFour Blog 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. Read more
10 Dec 2021 TwentyFour Blog 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. Read more
6 Dec 2021 TwentyFour Blog 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. Read more
2 Dec 2021 TwentyFour Blog EM looks very cheap, but patience a virtue Emerging markets assets have endured a lot of punishment during 2021. Read more
1 Dec 2021 TwentyFour Blog 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. Read more
30 Nov 2021 TwentyFour Blog Credit exposure should be smart and short in 2022 Fundamentally the outlook for 2022 appears less supportive than it was 12 months ago. 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