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New UBS ETF on Xetra: sustainable eurozone corporate bonds with investment grade rating
April 14, 2021--A new exchange traded fund issued by UBS Global Asset Management has been tradable on Xetra and Börse Frankfurt since Monday.
With the UBS ETF (LU) Bloomberg Barclays MSCI Euro Area Liquid Corporates Sustainable UCITS ETF (EUR) A-acc, investors participate in the performance of euro-denominated, fixed-rate corporate bonds from the eurozone with an improved ESG profile compared to their peers.
The index currently only includes debt securities from the financial institutions, industrials, and utilities sectors. Bonds with an investment grade rating and a minimum residual term of one year and a minimum outstanding volume of 500 million euros are considered. The debt instruments of an issuer are limited to five per cent.
Companies with significant business activities in the areas of alcohol, tobacco, gambling, adult entertainment, nuclear energy, weapons, and genetically modified organisms are excluded from the index.
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Source: Deutsche Börse
Deutsche B0rse to expand crypto offering on Xetra with ETC Group's Litecoin ETN
April 14, 2021--Easy access to the performance of Litecoin / product with physical collateralisation / central clearing reduces settlement risks
Deutsche Börse continues to expand its range of cryptocurrency products: from today, an Exchange Traded Note (ETN) on Litecoin is available for trading via Xetra and Börse Frankfurt for the first time. The issuer of the product is ETC Group.
The LTCetc- ETC Group Physical Litecoin ETP now enables investors to participate in the performance of the cryptocurrency Litecoin on Xetra without having to set up crypto wallets. The ETN, which is physically backed by Litecoin, has been admitted to the Regulated Market of the Frankfurt Stock Exchange and is centrally cleared via Eurex Clearing. This allows investors to benefit from significantly reduced risks in the settlement of exchange transactions.
Name: LTCetc- ETC Group Physical Litecoin ETP
Asset class: ETN
ISIN: DE000A3GN5J9
Ongoing charges:: 2 per cent
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Source: Deutsche Börse
Retail clients continue to lose out due to high investment products costs
April 14, 2021--The European Securities and Markets Authority (ESMA), the EU securities regulator, today publishes its third annual statistical report on the cost and performance of European Union (EU) retail investment products. In the report ESMA finds that the costs of investing in key financial products, such as UCITS funds, retail alternative funds, and structured investment products (SRPs) remain high and diminish the investment outcome for final investors.
Clear and understandable information about the impact of costs on the returns that retail investors can expect to receive is key to allowing investors to make informed investment decisions. Ensuring this information is made available is a key element in meeting ESMA's investor protection objective.
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Source: ESMA
Euro area securities issues statistics: February 2021
April 14, 2021--The annual growth rate of the outstanding amount of debt securities issued by euro area residents was 7.6% in February 2021, compared with 7.4% in January.
For the outstanding amount of listed shares issued by euro area residents, the annual growth rate was 1.7% in February 2021, compared with 1.5% in January.
Debt securities
New issuances of debt securities by euro area residents totalled EUR 658.8 billion in February 2021. Redemptions amounted to EUR 529.3 billion and hence net issues to EUR 129.5 billion. The annual growth rate of outstanding debt securities issued by euro area residents was 7.6% in February 2021, compared with 7.4% in January.
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Source: ecb.com
From Vaccines to V-Shaped Recovery in Europe
April 14, 2021--One year into the pandemic, Europe finds itself at another turning point. New waves of infection are hitting the continent, requiring new lockdowns. But, unlike last year, safe and effective vaccines are now available. While the pace of vaccination is still slow, an end to the pandemic is in sight.
Reflecting the periodic infection waves and the pace of vaccinations, the economic recovery in Europe is still halting and uneven. While industrial production has returned to pre-pandemic levels, the service sector is still contracting.
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Source: IMF
IMF-Regional Economic Outlook for Europe April 2021
April 13, 2021--With new waves of COVID-19 infections hitting Europe, the recovery remains halting. However, vaccinations are progressing and thus Europe's GDP growth is projected to rebound by 4.5 percent in 2021. The main priority is to quickly ramp up the production and administration of vaccines.
At the same time, policymakers need to continue providing emergency support to households and firms. And they need to prepare measures to stimulate hiring and investment once the pandemic is under control. Such measures will foster a quicker and fuller recovery, by reducing scarring from unemployment, missed education and training, and low investment.
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Source:IMF
Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Frankfurt am Main on Wednesday and Thursday, 10-11 March 2021
April 8, 2021--1. Review of financial, economic and monetary developments and policy options
Financial market developments
Ms Schnabel reviewed the financial market developments since the Governing Council's previous monetary policy meeting on 20-21 January 2021.
Sovereign yield curves across advanced economies had steepened, while new coronavirus (COVID-19) cases had fallen, the pace of vaccination had accelerated and a large fiscal stimulus programme in the United States was expected to be soon put into law.
The measurable rise in commodity prices had added to upward pressure on long-term nominal bond yields. The increase in long-term bond yields had been more muted in the euro area than in other advanced economies. The euro area GDP-weighted yield curve remained considerably flatter than throughout most of the years preceding the COVID-19 pandemic and it had largely the same shape and location as observed just before the outbreak of the pandemic.
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Source: ECB
UK official holdings of international reserves: March 2021
April 7, 2021--This release details movements in the international reserves of gold and assets held by the UK government.
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Source: gov.uk
ESMA updates its Q&As on MiFID II and MiFIR transparency topics
April 6, 2021--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has today updated its Questions and Answers regarding market structures issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).
ESMA has introduced changes to one of its Q&A on tick sizes to reflect the amendment introduced in Article 49(1) of MiFID II which excludes Large in Scale transactions from the mandatory tick size regime.
The purpose of ESMA's Q&As on market structures issues is to promote common supervisory approaches and practices in the application of MiFID II and MiFIR. They provide responses to questions posed by the general public and by market participants in relation to the practical application of level 1 and level 2 provisions to transparency and market structures issues.
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Source: ESMA
EU financial regulators warn of an expected deterioration of asset quality
March 31, 2021--The three European Supervisory Authorities (EBA, EIOPA and ESMA- ESAs) issued today their first joint risk assessment report of 2021 . The report highlights how the COVID-19 pandemic continues to weigh heavily on short-term recovery prospects. It also highlights a number of vulnerabilities in the financial markets and warns of possible further market corrections.
Macroeconomic conditions improved in the second half of 2020, supported by ongoing fiscal and monetary policy efforts, but the resurgence of the COVID-19 pandemic since the last quarter of 2020 has led to increasing economic uncertainty.
The start of the rollout of vaccinations provides a crucial anchor for medium-term expectations, but insufficient production capacities, delays in deliveries as well as risks related to mutations of the virus are weighing heavily on short-term recovery prospects.
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Source: ESMA
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