Sharing our convictions

In this short video, you learn more about the sources, into which our experts in fixed income investments tap under different market conditions with the aim of generating alpha, the core of active management.

A French CMBS transaction named River Green – a deal we exited a few years ago at a price in the mid-90s as part of a broader review of our CMBS exposure – has come under renewed scrutiny after a new valuation triggered expectations of principal losses on what were originally AAA rated bonds. Here’s how we got here.

The UK Office for National Statistics (ONS) issued their monthly summary of the UK government’s income and expenses as well as the impact these have on the budget deficit and fiscal debt levels.

With the summer holiday season fast approaching, now feels like a good moment to pause and take stock of developments in the European ABS market year-to-date.

The Trump administration’s immigration policy leaves the US labour market at a pivotal juncture.

The pace of progress in AI is extraordinary. But will it displace popular music or broader media in the near term? We continue to monitor developments closely, particularly in hybrid human-AI creative workflows, evolving rights frameworks, and new monetization models that could shift competitive dynamics over time.

TwentyFour Asset Management’s Gordon Shannon reflects on a volatile but resilient second quarter of 2025 for the Investment Grade team, shaped by shifting tariff policies and evolving central bank actions.

In his latest update, TwentyFour Asset Management’s George Curtis looks back at a volatile yet resilient Q2 2025 for the Multi-sector bond team.

As the second quarter of 2025 draws to a close, TwentyFour Asset Management’s Elena Rinaldi shares her insights on a period shaped by significant geopolitical and macroeconomic developments.

Collateralised loan obligations, or CLOs, have become an increasingly popular asset class within global fixed income.

Aza Teeuwen (Partner, Co-Head of ABS) and Elena Rinaldi (Portfolio Management) hosted a webinar on Wednesday 9 July 2025, where they shared insights into recent trends in global CLOs.

The UK Prime RMBS market has continued to evolve in 2025, with a broadening of its participant base driven by the entrance of two new sponsors (Nottingham Building Society and Newcastle Building Society) which have both priced inaugural deals this year.

Primary issuance in the European high yield (HY) market surged in June with €21.2bn of supply marking the highest monthly volume on record.

The turbulent start to 2025 has sent many investors seeking alternatives to US assets, but in our view European fixed income can offer more than just diversification.

Last Friday, the European Banking Authority (EBA) published its semi-annual Risk Assessment Report. It is always a good read, as it provides a summary of trends in the banking sector and highlights risks that might be emerging in parts of the banking system.

Are there lessons we can already learn from April’s blackout in Spain and Portugal? We believe so. Electrification lies at the heart of the energy transition. With increased investment, resilience can improve and alongside increased storage capacity, we can unlock the potential of the grid.

Recent market volatility has reinforced the value of alpha over beta. While markets rebounded from recent lows, risks persist – from uncertain trade policy to concerns about debt sustainability. But fixed income remains resilient. We are finding opportunities in local currency EM debt, US high yield, and European investment grade credit.

Softer US economic data means the pressures on UST yields now look more balanced, but headlines around President Trump’s pick for the next Fed chair are just one reason investors should expect rates volatility to continue.

Blog posts about regulation rarely trouble our most-read charts, but on this occasion we think the payback on time invested looks more compelling.

Last week marked another record-breaking year for the securitisation industry as over 5,500 market participants gathered in Barcelona for the annual Global ABS conference, surpassing last year’s attendance and reflecting the growing momentum across both public asset-backed securities (ABS) and private asset-backed finance (ABF) markets.

Despite Israel and Iran exchanging fire for a fifth day, markets seem to be completely disregarding the possibility of this conflict mutating into something serious for the global economy.

Discover the key insights from our Q2 Fixed Income webinar, where our experts explored the latest market shifts and strategic positioning opportunities in a rapidly evolving environment.

In our latest Quality Conversations videos, discover how quality companies—those with strong franchises, pricing power, and unlevered balance sheets—can thrive in uncertain markets. By navigating inflation, shifting economic cycles, and interest rate volatility, these "masters of their own destiny" appear to offer resilience and long-term growth potential.

While tariffs have done meaningful damage to the economic outlook and raised volatility in rates markets, the softening of the US stance has restored confidence in credit returns for 2025.