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
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
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
25 Oct 2021 TwentyFour Blog European ABS and CLOs Resilient Amid Volatility After a mixed start to Q4 for risk assets, Elena Rinaldi examines how European ABS and CLO assets have fared so far in Q4 and the factors currently affecting both markets. Read more
15 Oct 2021 TwentyFour Blog BoE Rate Hikes Would Be Music to ABS Ears Let’s not forget that the BoE dropped rates from 0.75% right down to 0.1% at the start of the COVID-19 pandemic back in March 2020, having only managed to put through two hikes in 2017 and 2018. It has changed course sharply before. Read more
13 Sep 2021 TwentyFour Blog How do ABS and CLO Investors Trade Bonds? BWIC – or bids wanted in competition – lists, are a unique characteristic of the ABS and CLO markets, where they are widely used in secondary trading when investors are looking to sell bonds. Read more
13 Jul 2021 TwentyFour Blog CLO Metrics continue to improve Based on these metrics, the picture seems rosy, and credit performance looks set to continue through the second half of the year should the main drivers of the recovery remain intact. Read more
1 Jun 2021 TwentyFour Blog Investors Should Fight Weakened CLO Docs 2021 looks set to become a post-financial crisis record year for European CLO issuance and refinancings, but amid the rush of activity we are seeing a concerning trend for weaker documentation in refinanced deals that in our view investors need to fight against. Read more
3 Feb 2021 TwentyFour Blog The Great CLO Refinancing is Well Underway I think it’s likely we’ll see new cycle tights for the European CLO sector this year, so in addition to healthy income we believe there is plenty of room for capital appreciation as prices are being pushed higher in the secondary market. Read more
14 Jan 2021 TwentyFour Blog ABS in 2021: Spread Tightening and Supply Surprises Our analysis indicates European ABS investors can carry forward little concern about nasty default surprises, and this is likely to be important when considering total returns for 2021. Read more
25 Sep 2020 TwentyFour Blog CLOs Outperform Gloomy Forecasts Overall CLO and loan performance have exceeded our expectations, though there are still plenty of headwinds for the market, chief among which is the prospect of further lockdowns and more economic disruption as Europe battles a second wave of COVID-19 cases. Read more
11 Sep 2020 TwentyFour Blog The CLO Machine is Slowing Down There are still plenty of potential bumps in the road (Brexit, the US election, COVID-19 developments and so on) but the positive technical created by dwindling supply has the potential to push spreads tighter in coming months. Read more