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
25 Jul 2019 TwentyFour Blog Slim Premiums a Signal for Caution in High Yield Over the past few weeks there has been a noticeable increase in high yield new issuance, bringing a welcome flurry of activity to what has so far been a relatively benign year. Read more
19 Jul 2019 TwentyFour Blog PIC’s RT1: The Brexit Premium in Practice The UK’s political situation, and in particular the harder Brexit stance of the frontrunner for next prime minister, Boris Johnson, has provided the market with a steady stream of headlines over the past few weeks. As a direct consequence sterling is close to 6% off recent highs and domestic credit spreads have also underperformed their European and US peers. Read more
21 May 2019 Viewpoint How to Build a High Conviction Bond Portfolio TwentyFour CEO Mark Holman explains how high conviction thinking runs right through the firm’s investment process, and why he believes a concentrated, flexible portfolio is critical to combatting the unique challenges facing fixed income markets today. Read more
12 Dec 2018 Viewpoint Fixed Income: This time next year... With so much going in the markets, we decided to delay our 2019 outlook slightly, in order to meet with as many analysts and strategists as possible and ensure we had time to sensibly comprehend the recent turmoil. Recapping 2018 has not been an enjoyable exercise, but an important one if we are to move ahead with the right lessons and expectations for the coming year. Read more
16 Nov 2018 Viewpoint Meet TwentyFour's Strategic Income team We hear from the portfolio managers about how their fixed income specialism gives them a unique insight into global bond markets. Watch now