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Count the defensive characteristics that make investors interested in global listed infrastructure: enormous pent-up demand; historically stable and predictable cash flows; inflation protected revenues; attractive yields; and the potential for capital appreciation. Our white paper gives you an intro to this attractive asset class.

Before using the defibrillator in a first-aid course, you learn to thump the patient’s chest to the rhythm of the Bee Gees hit “Stayin’ Alive”. Governments and central banks are applying some of the same Saturday Night Fever magic to the global economy.

Today BBVA announced it would be issuing the first ever green Additional Tier 1 (AT1) bond, a perpetual non-call 5.5-year with initial price thoughts at 6.5%, and immediately sparked a spirited debate among the TwentyFour team over how green bank capital can be.

The past month of June was marked by confidence on the markets. Nonetheless, models reduced equity overweighting as risk-bearing investments have now largely recovered. They are maintaining a negative duration positioning in light of record low interest rates.

Head of Emerging Market Bonds Luc D’hooge gives you his latest view on EM hard-currency bonds and where he is finding opportunities.

From an active manager’s point of view, risk premiums are currently very high in emerging markets and make their corporate bonds an attractive asset class in the stubborn low-rate environment. Wouter van Overfelt, portfolio manager of our Emerging Markets Corporate Bond portfolio, is ready to take advantage of the broad and promising opportunity set, applying a tried and tested investment strategy.

Like many market participants we are looking ahead to a much anticipated Q2 reporting season, which is even more pertinent this year given the unprecedented environment we have all found ourselves in. We are particularly interested in reviewing the major banks given they are at the centre of the transmission mechanism and hence a barometer for the wider economy.

One topic that is beginning to gather headlines again is the terms of any bilateral agreement between the UK and European Union once Brexit is finally completed at the end of this year, with the latest round of negotiations breaking up a day early this week as both sides said they were still far apart on a number of issues.

After the most incredible first quarter of 2020, we have seen an almost equally incredible second quarter. It is clear to us that the market overreacted in March, but it has also overreacted in its interpretation of the recovery.