Investment Grade Quarterly Update – October 2022

The US Treasury Department surprised markets yesterday afternoon by announcing an increase in its buyback operations, which will “at least double” to $4bn, from 9 September to 4 November.

The TwentyFour Multi-Asset Credit (MAC) strategy aims to maximise returns by allocating to a broad range of sectors across the global credit markets and dynamically targeting what it considers the optimum mix of credit assets as economic conditions change across the market cycle.

Credit assets generally performed well in the first of half of 2026, despite periodic volatility driven by the Iran war and concerns about AI disruption and private credit.

TwentyFour Asset Management’s Gordon Shannon reflects on a quarter shaped by geopolitical tensions, government bond volatility and shifting central bank expectations.

TwentyFour Asset Management’s Diva Bashay reflects on a quarter which tested market sentiment through geopolitical tensions, shifting interest rate expectations and UK political developments.

TwentyFour Asset Management’s Elena Rinaldi reflects on a quarter in which Asset-Backed Securities (ABS) and Collateralised Loan Obligation (CLOs) markets demonstrated resilience despite heightened geopolitical and market volatility.