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Europe

High yield supply points to buoyant market
24 Apr 2023 TwentyFour Blog

High yield supply points to buoyant market

In the last few weeks the high yield primary market has seen a resumption of issuance which Portfolio Manager George Curtis believes points to a relatively buoyant market.
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Bank results should see levels begin to normalise
17 Apr 2023 TwentyFour Blog

Bank results should see levels begin to normalise

With the US bank earning season having begun last Friday, Dillon Lancaster believes this could be a catalyst to help spreads begin to recover.
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4 Apr 2023 TwentyFour Blog

Negative credit migration calls for caution

Despite the recent volatility in the banking sector, corporate credit has remained strong. Pierre Beniguel looks at the interesting rating action which caught attention last week.
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31 Mar 2023 TwentyFour Blog

European Banking crisis fears overdone?

With headlines suggesting that deposit outflows in the banking sector are causing concern, Felipe Villarroel looks at the data which suggests that European banks remain resilient.
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Funding, capital and ABS as financial market stability tool
30 Mar 2023 TwentyFour Blog

Funding, capital and ABS as financial market stability tool

Douglas Charleston looks at the wider implications of recent bank sector volatility and the opportunities it presents for credit investors.
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28 Mar 2023 TwentyFour Blog

What is in the price of AT1s after the sell off?

After a volatile few days in bank capital, Felipe Villarroel looks at how AT1s are pricing after the sell off.
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22 Mar 2023 TwentyFour Blog

How have AT1s traded this week

The events that unfolded over the weekend were sure to make for some volatile trading sessions in the Additional Tier 1 (AT1) market this week.
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20 Mar 2023 TwentyFour Blog

Bank of England joins the ECB on hierarchy

The Bank of England joins the European Central Bank in stating that there is a clear hierarchy when it comes to a resolution or an insolvency scenario.
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20 Mar 2023 TwentyFour Blog

Rules of the game - from Swiss finish to finished

Swiss regulators' decision to bail out Credit Suisse equity holders while wiping out AT1 debtholders will see long-term effects on bank debt markets and likely legal action says Eoin Walsh
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15 Mar 2023 TwentyFour Blog

Credit Suisse - In the eye of the storm

Partner Eoin Walsh explores what the potential outcome of regulatory intervention for Credit Suisse could mean as negative headlines persist for the bank.
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10 Mar 2023 TwentyFour Blog

Idiosyncratic or wider bank issue?

Deposit outflows at Silicon Valley Bank raise concerns over lending quality and mark-to-market losses, but is this a wider issue for the global banking sector?
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9 Mar 2023 TwentyFour Blog

CLO documentation provides downside protection to investors

As we approach the end of the economic cycle, tighter documentation is becoming increasingly important in providing downside protection against credit and extension risk of CLOs, says Pauline Quirin.
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