Market updates

In recent weeks the US debt ceiling has been dominating headlines with investors focused on the imminent threat of a US default which would be extremely unnerving for global markets. We look at the wider implications facing the US economy.

As earnings season kicks off in Europe, Eoin Walsh looks at what impact, if any, recent volatility in the banking sector has had on European banks. 

Partner and Portfolio Manager Chris Bowie discusses recent Q1 events and gives an outlook for Investment Grade for the next quarter.

With headlines suggesting that deposit outflows in the banking sector are causing concern, Felipe Villarroel looks at the data which suggests that European banks remain resilient.

After a volatile few days in bank capital, Felipe Villarroel looks at how AT1s are pricing after the sell off.

Swiss regulators' decision to bail out Credit Suisse equity holders while wiping out AT1 debtholders will see long-term effects on bank debt markets and likely legal action says Eoin Walsh

Partner Eoin Walsh explores what the potential outcome of regulatory intervention for Credit Suisse could mean as negative headlines persist for the bank.

With the collapse of Silicon Valley Bank dominating media headlines and fueling questions among investors, Mario Montagnani explains why our Multi Asset Boutique believes it is a company-specific, isolated case.

Deposit outflows at Silicon Valley Bank raise concerns over lending quality and mark-to-market losses, but is this a wider issue for the global banking sector?

With 2023’s rally halted by the Fed’s hawkish messaging, Felipe Villarroel questions whether markets read the recent jobs data correctly and looks at what it means for terminal rate expectations.

Strong performance across markets in January has left some investors feeling they’ve missed out on the rally in bonds. No need to worry, says Felipe Villarroel.

TwentyFour Portfolio Manager, Jack Daley, discusses how the short term bond strategy has performed in Q4 2022 and provides his outlook for the new year.

A member of our Multi-Sector Bond discusses market conditions in Q4 2022.

TwentyFour Partner and Portfolio Manager, Douglas Charleston, describes the developments of the ABS market in Q4 2022.

With projections for European growth and inflation being hastily revised in early 2023, the region’s bonds are still paying investors a premium that may not be around for long, says Dillon Lancaster.

Recent employment data suggests the US economy may escape with a soft landing, a welcome boost to market sentiment in the early days of 2023, says Eoin Walsh.

The Politburo, the top decision-making body of the Chinese Communist Party, announced last week a document focusing on the country’s economic growth in 2023. Meanwhile, the Chinese government also started to exit its zero-Covid-policy, much sooner than anticipated. These intentions signal an earlier-than-expected recovery of the Chinese economy.

Following Chairman Powell’s speech last night, George Curtis looks at what the latest labour market data means for the Fed’s war on inflation.

China’s authorities have recently revealed coordinated measures to alleviate the pressure on its property sector. The government tried to help the sector in the past year but failed; however, this time could be more determined and effective.

George Curtis looks at market conditions in the third quarter of 2022.

TwentyFour Portfolio Manager, Johnathan Owen, explains how investment grade markets have performed in Q3 2022.

With some UK bank bonds now trading with higher yields than their counterparts in Turkey, Mark Holman questions whether the dumping of UK and sterling assets has gone too far.

TwentyFour Partner and Portfolio Manager, Douglas Charleston, explains how ABS markets have performed in Q3 2022 and provides his outlook for the rest of the year.

With rates volatility persisting and developed markets likely sliding toward recession, Jack Daley revisits our research on BBB defaults and returns and explains why we tend to maintain a significant allocation to BBB credit.