Fixed Income

As the third quarter of 2024 comes to a close, TwentyFour Asset Management's Aza Teeuwen reflects on what this has meant for the Asset-Backed Securities (ABS) team. Not only were volumes across European ABS elevated throughout July and August, we also saw €34 billion in primary issuance – a significant increase from previous years.

Chris Bowie at TwentyFour Asset Management describes the third quarter of 2024 as a significant turning point in fixed income markets, marked by the Federal Reserve (Fed) cutting interest rates by 50 basis points (bps) for the first time in many years. This followed an earlier 25bp cut by the Bank of England (BoE), setting the scene for further rate cuts over the coming years.

With cracks starting to show in the US economy, many are wondering whether tight corporate bond spreads leave investors vulnerable. But with corporate balance sheets holding firm and yields on higher quality bonds looking attractive, staying invested in credit should continue to reward investors.

Watch our video as we explore the key themes of the new Global Credit Outlook and share our latest market insights. We highlight the four main drivers of global credit: Macroeconomics, Microeconomics, Technical Factors, and Valuation.

Uncertainty is over, it was a 50 basis points (bps) move. As we mentioned in our previous blog, the most important take away from the Federal Open Market Committee (FOMC) meeting would be their assessment of the economy.

While the majority of headlines have concerned whether the Fed will do 25bp or 50bp to kick off its cutting cycle, we think this is only one part of the discussion – and not necessarily the most important one.

Find your footing amid ever-changing conditions with Vontobel’s new Fixed Income Quarterly. The launch edition finds our Fixed Income team feeling very balanced, very buoyant, and very bold. Read on to discover why.

In his headlining speech at the Jackson Hole Economic Symposium, Federal Reserve (Fed) chair Jerome Powell’s message to the market was clear.

Recent US Consumer Price Index (CPI) inflation data brought good news for investors and central banks.

If you were on vacation last week, your holiday blues wouldn’t have been helped when you looked at your screens this morning, given how quickly sentiment has changed, mainly on the back of one data point.

TwentyFour Asset Management's Chris Bowie discusses the underweight duration across all of our outcome driven strategies, how this phase is now coming to an end, and why we are beginning to increase our interest rate duration in all of our funds.

Positioning and fixed income markets have remained quite tricky this year, however credit markets have continued to perform very strongly. TwentyFour Asset Management's Eoin Walsh, discusses why he thinks there is opportunity within European credit despite the rate headwinds and pull back on some of the aggressive rate cutting expectations markets had at the start of the year.