Deals come thick and fast in European ABS after summer recess
The European ABS market is making a strong comeback post-summer, witnessing two of the busiest weeks in over a decade, driven by robust demand.
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TwentyFour Blog
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.
Record UK residential rent increases and equity injections
Aza Teeuwen takes a deep dive into the recent reports and press coverage on record residential rent increases by UK landlords, equity injections into RMBS and how they might be helping to reduce refinancing risks.
ECB: That's All Folks?
Felipe Villarroel argues that it will not be long before we see yields in fixed income assets at levels markedly above spot inflation which could translate in investors racing to lock in those yields.
Growing signs that the UK labour market is weakening
The labour market has been one of the major headaches the Bank of England has had to deal with in their battle against inflation. Yesterday the ONS released their monthly labour market update and although some of those headaches’ causes are not abating, there are others that are actually showing signs of progress.
ECB’s turn to skip?
Dillon Lancaster comments on the divergence in views from ECB members, and whether the end of the week will see a 'skip' or 'hawkish pause'. He believes either outcome is not likely to have a huge effect on the market.
New issues highlight value opportunities in fixed income
Pierre Beniguel gives his thoughts on some of the deals that have caught his eye from the reopening of the primary market after a quiet summer.
How UK mortgages are weathering the storm?
Pauline Quirin asks the question "How are UK mortgages weathering the storm?", exploring pre and post Global Financial Crisis mortgages and how the surge in rates has impacted the performance of UK RMBS.
Labour markets show encouraging signs of progress
Felipe Villarroel takes a look at what progress, if any, has been made in the labour market and how this resonates with the Fed's projection of labour markets easing while not experiencing a major disruption.
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.
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.
Signs of life in European CMBS
Europe recently saw the re-emergence of Commercial Mortgage-Backed Security (#CMBS) issuance, with Blackstone sponsored Last Mile Logistics 2023-1 deal, marking the first return since March 2022 from sponsor Blackstone and the first European CMBS issuance of any kind since last April.