Vescore Market Update | Read | 3 min Aug 22 2023 Markets remain skittish as rising oil prices may undermine inflation retreats Inflation and interest rates still wrestle over the fate of the economy. Meanwhile, equities have had a pretty good run so far this year. However, when commodity prices started climbing earlier this summer, they had to give up some of the gains revealing underlying uneasiness over the trajectory of inflation and the economy. Read more
TwentyFour Asset Management Viewpoint | Read | 6 min Aug 21 2023 Fixed income opportunities in a soft landing scenario After a difficult 2022, bonds may be poised for unusually high returns compared to historic averages. And not just in the US -- we see opportunities in European CLOs and RMBS. They offer double digit yields for short-dated debt and look very attractive on a relative value basis compared to domestic credit. Read more
TwentyFour Asset Management TwentyFour Blog | Read | 2 min Aug 04 2023 Diverging dynamics in savings ratios As governments around the world provided support in various manners during the pandemic, savings ratios increased to levels that were twice as large as the previous all time highs in some countries. Felipe Villarroel takes a look at some countries' spending vs savings monthly data patterns and lays out what he thinks this means for fixed income investors. Read more
TwentyFour Asset Management TwentyFour Blog | Read | 2 min Aug 02 2023 Banks have done their part – now will markets catch up Bank bonds have been amongst the best performing asset classes in fixed income over the last few months, doing their bit in proving their strength. Read more
Vescore Outlook | Read | 5 min Aug 02 2023 Vescore Global Market Outlook August 2023 For now the much-feared recession has been staved off thanks to a resilient consumer. However, the risk is not off the table yet which has prompted our models to take a small step back from maximum equity allocations. While they stay optimistic, they have now started to treat the asset class with a grain of salt while bonds don’t seem to be able to find their way out of the dog’s house. Read more
Fixed Income Boutique Outlook | Watch | 10 min Jul 25 2023 Are emerging market bonds on the mend? Video updates by our experts Luc D’hooge and Wouter Van Overfelt review the developments of the Vontobel Fund – Emerging Markets Debt and Vontobel Fund – Emerging Markets Corporate Bond and share their forecast for the remainder of 2023. Watch now
Vontobel Multi Asset Boutique Viewpoint | Read | 6 min Jul 25 2023 How likely is the dreaded second wave of inflation? Inflation has dominated headlines and investors’ conversations. Some are wondering whether we should be bracing for a second wave – especially when comparing today’s trend with that of the 1970s. Read more
TwentyFour Asset Management TwentyFour Blog | Read | 1 min Jul 24 2023 PMIs Below Expectations in Europe and the UK Felipe Villarroel looks at the preliminary numbers for July PMI Manufacturing and PMI Services data, and how from a markets point of view, he thinks volatility will remain in place while both rates and spreads should trade in a range as we await for more clarity on whether inflation will allow Central Banks to pause and the extent of the slowdown in H2, particularly considering August is looming. Read more
TwentyFour Asset Management TwentyFour Blog | Read | 3 min Jul 19 2023 Reinvestment risk growing, along with the soft landing narrative What level of risk are investors willing to take? As central bank rates hike and a soft landing narrative makes its way into analysts’ forecasts, Eoin Walsh takes a look at what affects this has on investment risk and reinvestment risk. Read more
TwentyFour Asset Management Market Update | Watch | 6 min Jul 19 2023 Investment Grade Quarterly Update – July 2023 Jack Daley takes a look into the economic events that have influenced the investment grade markets in Q2. He then goes on to explain why he believes investment grade fixed income offers the most attractive risk-adjusted returns currently available. Watch now
TwentyFour Asset Management Market Update | Watch | 4 min Jul 19 2023 Multi-Sector Bond Quarterly Update – July 2023 In our MSB update, Charlene Malik, reflects on the banking turmoil that occurred in Q2, as well as happenings around the US debt ceiling and global inflation. She then goes on to discuss the ways the MSB team have responded to Q2 events. Watch now
TwentyFour Asset Management Market Update | Watch | 5 min Jul 19 2023 Asset-Backed Securities Quarterly Update – July 2023 Douglas Charleston believes European ABS has once again provided a rare bright spot for fixed income. He explains how, from Q1 to Q2, focuses have shifted, and delves into different macro-economic variables affecting the ABS market. Watch now