Volatility resurfaces this week
The TwentyFour Blog
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12h ago
Volatility made an unwanted come back this week. A combination of rising tensions in the Middle East, strong Consumer Price Index (CPI) and labour market data in the US in previous days, and markets that looked somewhat expensive in certain sectors, all conspired to cause a widening in spreads and a correction in equity prices ..read more
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Small miss for Enel, big step for the sector
The TwentyFour Blog
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12h ago
Following yesterday’s release of Italian energy company Enel's 2023 annual sustainability report, it was confirmed that they had failed to meet the emissions reduction key performance indicator (KPI) linked to a number of their sustainability linked bonds (SLBs ..read more
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Don't forget about money supply measures M1 and M2
The TwentyFour Blog
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12h ago
Money supply measures such as M1 and M2 enjoyed a relatively brief period of fame and glory just after the pandemic ..read more
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Labour markets strength continues
The TwentyFour Blog
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1w ago
Labour market data in the US was stronger than expected on Friday. US Treasuries reacted accordingly with a 10 bps sell-off with Gilts and Bunds moving in the same direction but in a calmer fashion ..read more
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Thames Water – A fluid situation
The TwentyFour Blog
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1w ago
We previously blogged about Thames Water in July last year but it’s rapidly refloated to the top of UK credit market concerns. Following more recent events, where do we think Thames Water go from here ..read more
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CPI surprises again on the upside
The TwentyFour Blog
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1w ago
The US Consumer Price Index (CPI) surprised on the upside for the third month in a row. There was nowhere to hide in the release with a majority of sub categories and sub aggregates posting worse numbers than expected ..read more
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European banking stocks - flying!
The TwentyFour Blog
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1w ago
The Additional Tier 1's product was first launched in early 2013, so the asset class has mostly seen the period of negative interest rates and challenging operating environment post the Euro zone crisis ..read more
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Health of US small business: an indicator for the US economy
The TwentyFour Blog
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1w ago
The NFIB (National Federation of Independent Business) survey can most certainly be considered an important report that monitors the pulse of the US economy ..read more
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Q1 recap: macro drivers and fixed income performance
The TwentyFour Blog
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3w ago
Quarter ends are always a useful time to take a step back and assess what the main macro drivers during the quarter were, which trades worked and which did not and to refresh macro views for the next period ..read more
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Eventful few weeks in European high yield
The TwentyFour Blog
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3w ago
It has been an eventful few weeks in the European high yield market. After waiting a long time for a bus to come along, three have come along at once ..read more
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