In this note, we discuss the following themes:
▪ Fundamentals: should we be afraid of falling rates? Or are rising rates the threat?
▪ Regulations: are there any new regulatory discussions we should be aware of?
▪ We are in 2024 now, what is happening on Legacy bonds?
▪ Should we expect upgrades or downgrades?
▪ Valuations and relative value ▪ What are the possible curve balls?