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Credit investors go 'all in' rather than fight central banks
August 13, 2020--Safety net provided by crisis measures encourages most bullish sentiment on record.
European credit investors have gone "all in", judging that the extraordinary market-supporting measures of central banks are too powerful to fight against, according to a survey by Bank of America.
The investment bank, which surveyed 51 fund managers across the UK and continental Europe, found that record-low interest rates and vast asset-buying programmes put in place to limit the economic damage from the Covid-19 pandemic have encouraged many to load up on corporate bonds.
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Source: FT.com
STOXX decides rule change for DAX Selection Indices
August 12, 2020--Insolvent companies must leave indices at short notice
Rule change will be effective on 19 August 2020
Qontigo's global index provider STOXX Ltd. has announced rule changes for the DAX family. STOXX decided to adopt the definition of Insolvency Event as proposed in the recent market consultation. According to the new rules, insolvent companies shall be removed from the DAX Selection Indices with two trading days' notice. The rules will become effective on 19 August.
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Source: Qontigo
BlackRock to tap best of own thematic funds with new strategy
August 12, 2020--BlackRock to tap best of own thematic funds with mega-trend strategy.
Asset manager will use new approach to invest across index and alpha products. BlackRock has launched a new mega-trend fund which is designed to capitalise on the best of its own active and index products.
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Source: citywire.co.uk
UK has worst economic slump in Europe with 20.4% contraction
August 12, 2020--The record slump, after a 2.2% drop in the first three months of the year, also outstripped the US downturn and officially pushed Britain into its first recession since 2009.
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Source: news24.com
UK economy faces long climb back to health after historic 20% crash
August 12, 2020--Britain's economy shrank by a record 20.4% in the second quarter when the coronavirus lockdown was tightest, the most severe contraction reported by any major economy so far, with a wave of job losses set to hit later in 2020.
The scale of the economic hit may also revive questions about Prime Minister Boris Johnson's handling of the pandemic, with Britain suffering the highest death toll in Europe. More than 50,000 UK deaths have been linked to the disease.
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Source:: reuters.com
New crop of ETFs offer creative investing ideas for volatile times -Financial Times
August 12, 2020--Fresh approaches abound in funds focused on gold, Chinese equities and ESG
Given how incredibly volatile markets have been during the past few months, it probably won’t come as a surprise that fund managers haven’t been racing to introduce new funds.
However, that hasn't stopped some useful new ideas from emerging, especially in the world of exchange traded funds, or ETFs. Some of these new funds might even make a lot of sense, given that markets are likely to remain volatile for some time.
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Source: onlinenewseurope.eu
Euro area securities issues statistics: June 2020
August 12, 2020--The annual growth rate of the outstanding amount of debt securities issued by euro area residents increased from 5.8% in May 2020 to 7.2% in June.
For the outstanding amount of listed shares issued by euro area residents, the annual rate of change was 0.1% in June 2020, compared with 0.0% in May.
Debt securities
New issuance of debt securities by euro area residents totalled EUR 919.4 billion in June 2020. Redemptions amounted to EUR 611.4 billion and net issues to EUR 308.0 billion. The annual growth rate of outstanding debt securities issued by euro area residents increased from 5.8% in May 2020 to 7.2% in June.
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Source: ECB
Sustainable Fund Flows Hit Record in Q2
August 4, 2020--Flows into sustainable funds more than double in second quarter, helped by heightened interest in ESG issues and new fund launches.
Flows into sustainable funds rebounded strongly after the coronavirus pandemic market sell-off, more than doubling to $54.6 billion over the second quarter of 2020.
The record second-quarter inflows were driven by growing investor interest in ESG issues, especially in the wake of the Covid-19 crisis. The disruption caused by the pandemic has highlighted the importance of building sustainable and resilient business models based on multi-stakeholder considerations.
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Source: morningstar.co.uk
Cash market trading volumes in July
August 3, 2020--Deutsche Börse's cash markets generated a turnover of €147.1 billion in July (previous year: €124.8 billion).
€118.4 billion were attributable to Xetra (previous year: €112.1 billion), bringing the average daily Xetra trading volume to €5.1 billion. Trading volume on Börse Frankfurt was €4.9 billion (previous year: €2.9 billion) and on Tradegate Exchange €23.7 billion (previous year: €9.9 billion).
By type of asset class, equities accounted for around €126.7 billion in the entire cash market. Trading in ETFs/ETCs/ETNs generated a turnover of €17.8 billion. Turnover in bonds was €0.4 billion, in certificates €1.8 billion and in funds €0.2 billion.
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Source: Deutsche Börse
The Spanish Stock Market trades 31.7 billion euros in July
August 3, 2020--The number of Equity trades grew by 34.2% last month and by 53.6% in the first seven months
Admissions to trading for Fixed Income markets grew by 53.1% year on year
Trading in IBEX 35 Futures and Mini IBEX 35 from January to July grew by 7% and 27.2% respectively
The Spanish Stock Exchange traded 31.7 billion euros in Equities in July, down by 22.4% year on year and down by 36.2% in June. The effective cash volume traded at the end of July totaled 271.1 billion euros, down by 3.4% year on year.
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Source: BME
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