Obligations

Alors que nous arrivons au terme d’une année où les actifs risqués ont résisté aux droits de douane américains et aux inquiétudes croissantes concernant les valorisations technologiques liées à l’IA, l’équipe de gestion de portefeuille de TwentyFour Asset Management retient sept questions clés qui, selon elle, définiront 2026 pour les investisseurs en obligations.

The terms private credit and life insurance have appeared together in multiple negative headlines in recent weeks, and to casual observers the link between the two may not be immediately obvious.

For much of the past year, the AI story in markets has been one of unrestrained optimism. Firms have been racing to spend on chips, infrastructure, and data centres, and equity valuations have generally rewarded those with the boldest capital expenditure plans.

The European asset-backed securities (ABS) market, once among the most substantial in global fixed income, has remained subdued since the global financial crisis due to a decade of restrictive regulation.

Discover how developed and emerging market corporate bonds may offer stability, diversification, and alpha opportunities. With yields at multi-year highs and improving fundamentals, our experts believe now is the time to unlock the hidden potential of corporate bonds in your portfolio.

October brought the first serious bout of volatility in corporate bond markets for some time, with two high-profile US bankruptcies raising fears of a more systemic issue in credit.

Watch TwentyFour Asset Management's latest European ABS webinar with Rob Ford and Douglas Charleston to gain a deeper understanding of how regulatory reforms are reshaping the European ABS landscape and fuelling investor demand.

Amid tariffs, bankruptcies, and uncertainty, credit fundamentals remain strong. Elevated yields and solid corporate balance sheets favour income-focused fixed income strategies over government bonds, even as volatility persists.

As we begin the final stretch of 2025, market conditions appear challenging. Inflation remains sticky across a range of economies, preventing major central banks from enacting rapid rate cuts to support GDP growth.

2025 Q4’s mantra is 'Bringing It Home,' reflecting strong global corporate bond performance driven by carry and duration. Looking ahead to 2026, alpha generation may become paramount as markets shift focus from beta.

The Brazilian corporate bonds market has recently been demonstrating signs of volatility. Systemic or idiosyncratic? Or both?

France’s chronic government paralysis repeatedly created headlines this month, and fixed income markets are rightly worried about the sustainability of French government borrowing levels. Meanwhile, forecasts of a £50bn blackhole in the UK’s public finances are keeping gilt yields elevated and have made this November’s UK Budget a potential flashpoint.