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Articles for 2008

16 Dec 2008 Year end valutions for our model portfolio.
28 Nov 2008 Gilts and government guaranteed bonds perform strongly. Banks and financials recover from the lows but selected corporates show weakness.   
17 Oct 2008 Corporate bond valuations lower across the board.
15 Sep 2008 Gilts and supranational bonds strong, but storm continues to rage in corporate, financial sector bonds. 
8 Aug 2008 Bonds prices generally firmer on softer outlook for interest rates, but mark-to-market losses on PIBS holdings impact overall valuation.
3 Jul 2008 Valuations lower across the board.
2 Jun 2008 The month has seen some fairly sharp falls in the price of government bonds as inflationary fears lower the hope for interest rate cuts. We have now given back much of our gains on our Gilt and EIB holdings, however the effect on the corporate and bank sector bonds has been mixed, with the downward shift in the yield curve offset by some recovery in selective credits
2 May 2008 There has been a considerable change seen in the tone of the bond markets from last month’s valuation. For the first time in some months, high quality bonds are drifting off, whilst the more speculative financial and corporate names recover .
1 Apr 2008 First quarter 2008 valuations.   The situation remains broadly unchanged from the last couple of portfolio reports with Gilts and high quality bonds such as the AAA rated EIB issue benefiting from a "flight to quality" effect. At the other end of the scale, lower grade credits such as Kingfisher languish at low prices. Retailers, property companies and financials are the worst hit as the malaise continues in the credit markets (more)   
4 Mar 2008 We take a profit on our Experian holding. Wide spreads continue to keep valuations depressed in financials and retailers.
30 Jan 2008 January valuations show financials, retail and real estate bonds remain under pressure.