Fixed Income

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

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.

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.

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.

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.

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.

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.