TwentyFour Blog | Read | 5 min 30 Jan 2023 The compelling case for ABS in 2023 Having done its job of delivering lower volatility and better performance than mainstream bond markets in 2022, the income and defensive characteristics of European ABS look equally compelling in 2023, says Doug Charleston. Read more
TwentyFour Blog | Read | 3 min 17 Jan 2023 First results from great QT experiment are positive With many market participants fearing the impact of quantitative tightening (QT), Johnathan Owen looks at one central bank’s early experience of actively selling bonds to investors. Read more
TwentyFour Blog | Read | 5 min 9 Jan 2023 Are storm clouds gathering over the UK housing market? Part two… In the second instalment of a two-part blog on the UK housing market, Shilpa Pathak stress tests UK RMBS to determine how high mortgage defaults would have to get before bondholders are impacted. Read more
TwentyFour Blog | Read | 2 min 7 Dec 2022 Nationwide deal highlights surge in ABS interest and income Higher rates mean the income available on AAA RMBS bonds is eight times what it was at the start of this year, and growing demand for this floating rate asset class is clear, says Kevin Law. 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 | 3 min 2 Dec 2022 Are storm clouds gathering over the UK housing market? Part one… In the first of a two-part series on the UK housing market, Shilpa Pathak looks at the experience of previous recessions and argues fundamentals today look far stronger than they did either in 2007 or the early 1990s Read more
TwentyFour Blog | Read | 2 min 22 Nov 2022 Highest starting yields since ‘08 predict strong five-year returns Chris Bowie explains why he believes analysing starting yields can explain improved returns over the next five years Read more
TwentyFour Blog | Read | 4 min 11 Nov 2022 ABS liquidity is there when you need it most With the UK pension fund liquidity crisis sparking heavy selling in ABS, Pauline Quirin looks at how the market absorbed all the supply, and which investors have stepped in sensing a buying opportunity. Read more
TwentyFour Blog | Read | 3 min 8 Nov 2022 Healthy premiums drive big day for primary markets With well over €10bn of new bonds sold by European banks and corporates on Monday, Felipe Villarroel analyses the pricing and looks at the patterns that usually emerge when primary markets reopen. Read more
TwentyFour Blog | Read | 3 min 1 Nov 2022 UK risk premium looks too steep with stability restored With Rishi Sunak and Jeremy Hunt leading a more fiscally conservative UK government, Johnathan Owen checks in on sterling asset valuations and argues the UK premium is overcompensating for underlying risks. Read more
TwentyFour Blog | Read | 4 min 14 Oct 2022 Has the UK risk premium gone too far? With some UK bank bonds now trading with higher yields than their counterparts in Turkey, Mark Holman questions whether the dumping of UK and sterling assets has gone too far. Read more
TwentyFour Blog | Read | 3 min 5 Oct 2022 Where are CLOs trading after the Truss Tantrum? With the higher rated tranches of euro CLOs popular with UK pension funds, Aza Teeuwen looks at how the market coped with heavy selling in recent days and notes investment grade CLO bonds are now yielding close to 10%. Read more