Healthy Tightening in UK Credit Conditions
This morning the much anticipated Q3 2018 Credit Conditions Survey was released by the Bank of England.
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TwentyFour Blog
Another Reason To Be Skeptical Of Italy's Growth Projections
It may come as a surprise to some that the country currently experiencing the fastest pace of monetary tightening across developed nations is in Europe, where the main refinancing rate is well and truly anchored at -0.40%.
The Comeback of Corporate Hybrids
With September now behind us, colder mornings and darker nights approaching it seems an opportune time to take stock of how the primary market reopened this year after its traditional summer lull.
Italy Disappoints
This morning we arrived to the news that the Italian government was preparing a budget that had a deficit of 2.4%.
The Fed is Far From Dovish
Having listened carefully to the FOMC news conference last night, the message to us was clear – the Fed is pushing ahead with its normalisation of rates and the gradual shrinking of its balance sheet.
Hedging Costs Can Also Be a Benefit
Those of you who have seen or heard one of our presentations will be aware of the significant impact that the FX-basis currently has on our relative value bond selection.
The Next Crisis Will Begin…With Clickbait Headlines
There have been a number of recent articles in the mainstream press about the 10 year anniversary of the collapse of Lehman Brothers, with some saying familiar risks are emerging and questioning whether lessons have been learned.
US Treasuries Break Through 3% on their Way to 3.25%
A few weeks ago we wrote about the geopolitical risks helping to keep credit spreads wider in Europe and the UK and keeping a lid on US Treasury yields (Is It Time to Buy the Dip?).
Doctor Doom and the Doom of Tomorrow
In the early 1990s, Marvel comics introduced a world 100 years in the future with new stories for its popular heroes and villains. Doctor Doom's story was called "The Doom of Tomorrow".
Investors Need a Big Hike From Turkey
This is a crucial week for Turkey’s economy and the Central Bank of Turkey’s credibility.
Where there’s a will, there’s a way
Since that first encounter the market has remained a core financing option for banks’ consumer and corporate lending books, but there has always been a degree of innovation around the fringes.
Insurance Hybrids Back in the Spotlight
UK specialist insurer Rothesay Life came to the market yesterday, the latest company to issue in the fledgling RT1 sector introduced by the regulator as Solvency II compliant capital.