TwentyFour Blog | Read | 2 min 21 Sep 2023 Fed rates held: Goldilocks is in the building Eoin Walsh shares his thoughts following last night's statement from the Federal Reserve, concluding that for now while treasury yields aren’t helping, credit looks attractive based on the rosy economic forecasts. Read more
TwentyFour Blog | Read | 2 min 24 Aug 2023 Poor PMI data weigh on soft landing narrative Felipe Villarroel shares his thoughts on the recently released preliminary PMI data, which he concludes is a reminder that the hiking cycle only started 18 months ago and there are lags that are yet to be felt in the real economy, reiterating some of his previous views. Read more
TwentyFour Blog | Read | 2 min 22 Aug 2023 Will the Fed message soften at Jackson Hole? An interesting debate, and topic that is attracting plenty of headlines given the recent volatility is where Treasury yields will ultimately settle, with a renewed focus on the neutral rate. Eoin Walsh explores the previous movements of Treasury yields and what Powell is likely to say at Jasckon Hole. Read more
TwentyFour Blog | Read | 2 min 2 Aug 2023 Banks have done their part – now will markets catch up Bank bonds have been amongst the best performing asset classes in fixed income over the last few months, doing their bit in proving their strength. Read more
TwentyFour Blog | Read | 3 min 12 Jun 2023 A busy week ahead for central banks What can we expect from central banks this week? Felipe Villarroel looks at how recent CPI prints in the Eurozone and in the United States are expected to influence upcoming central bank monetary policy decisions. Read more
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 | 2 min 20 Feb 2023 High yield data shows buffer in corporate balance sheets While corporate fundamentals are expected to deteriorate as rate hikes hit the economy, many metrics are pointing to record strength in the European high yield space, says George Curtis. Read more
TwentyFour Blog | Read | 15 min 6 Dec 2022 The Rodney Blog 2023: A return to returns In our annual ‘Rodney Blog’, Eoin Walsh says that with rates now offering both yield and downside mitigation, and credit yields at near-decade highs, fixed income investors could enjoy strong returns in 2023 Read more
TwentyFour Blog | Read | 2 min 4 Jul 2022 The Fed and the flows are looking at inflation head-on After H1 2022 broke market records for all the wrong reasons, Gary Kirk says fixed income outflows could reverse quickly if investors see evidence that central banks are turning the tide on inflation. Read more
TwentyFour Blog | Read | 1 min 20 Jun 2022 Credit Suisse’s chunky coupon a sign of the times After 18 months of difficult headlines Credit Suisse could ill afford more negative press, and we therefore welcomed its decision to refinance its 7.125% Additional Tier 1 (AT1) bond last week at its first call date. Read more
TwentyFour Blog | Read | 3 min 10 Jun 2022 Widening spreads are not the only consideration for AT1 investors Given the widening of spreads in Additional Tier 1 (AT1) bonds, in line with general spread widening across all of credit, the prospect of AT1s not being called on their first call date is beginning to generate a few headlines again. Read more
TwentyFour Blog | Read | 3 min 27 May 2022 How advanced is the current cycle? The most important asset allocation decisions for global investors ought to originate by answering a seemingly simple question: Where in the cycle are we? Read more