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ECB-Meeting of 3-4 June 2020-Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Frankfurt am Main
June 25, 2020--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 monetary policy meeting on 29-30 April 2020. Three key conclusions could be drawn on the basis of recent market developments.
First, the ECB's monetary policy measures, together with the Franco-German recovery fund proposal which was subsequently broadly taken up in the package proposed by the European Commission, had reduced downside tail risks for the euro area. A drop in coronavirus (COVID-19) infection numbers and further large fiscal stimulus measures in other advanced economies had added to the improved sentiment.
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Source: ECB
Investors should start treating the British pound like an emerging markets currency, analysts say
June 25, 2020--The British pound is behaving like an emerging markets currency due to Brexit and liquidity conditions, Bank of America analysts claim.
In a note this week, Kamal Sharma and Myria Kyriacou, analysts at the bank, warned that the U.K.'s departure from the European Union would permanently change sentiment around sterling.
"Using turnover statistics from the BIS Triennial Survey alone one would conclude that the depth of the GBP market should have provided some cover against volatile market moves," they said. "This has not been the case and, in our view, Brexit is likely to permanently alter the way in which investors view the pound."
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Source: cnbc.com
21Shares launches three sterling-hedged cryptocurrency ETPs
June 24, 2020--Cryptocurrency ETP provider 21Shares, formerly known as Amun, has launched the world's first three sterling-hedged cryptocurrency exchange-traded products (ETPs).
The 21Shares Bitcoin (ABTC), the 21Shares Ethereum (AETH), the 21Shares Crypto Basket index ETP (HODL) will be hedged into sterling and listed on the SIX Swiss Exchange on 30 June.
The launches come following demand from UK investors for a local currency listing.view more
Source: etfstream.com
Solactive expands its Solactive ISS ESG Screened Corporate Bond Index Series with High Yield & Investment Grade Bonds denominated in EUR & USD
June 24, 2020--As investors' demand in ESG investments rises, German index Provider Solactive launched today its expansion for its ISS ESG Screened Corporate Bond Index series, now pooling High Yield & Investment Grade Bonds denominated in EUR and USD in respective market value-weighted indices.
The new index families are tailored to investors seeking portfolio diversification, including only companies operating in accordance with recognized standards on ESG controversy screens, which, in light of increasing regulatory initiatives by political institutions, become more and more market standard.
As its underlying universe, the Solactive ISS ESG Screened Corporate Bond Index Series utilizes the Solactive Investment Grade and High Yield Corporate benchmark families and trials its constituents through an issuer-based screening executed by ISS ESG. The screening contains the market standard criteria such as the U.N. Global Compact, verified involvement in controversial weapons, and engagement at specified revenue thresholds in certain controversial activities such as, among others, fossil fuels, military contracting, tobacco, and gambling.
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Source: Solactive AG
E.U. May Bar American Travelers as It Reopens Borders, Citing Failures on Virus
June 23, 2020--European Union officials are racing to agree on who can visit the bloc as of July 1 based on how countries of origin are faring with new coronavirus cases. Americans, so far, are excluded, according to draft lists seen by The New York Times.
European Union countries rushing to revive their economies and reopen their borders after months of coronavirus restrictions are prepared to block Americans from entering because the United States has failed to control the scourge, according to draft lists of acceptable travelers reviewed by The New York Times.
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Source: Europe
Brussels refers LSE-Refinitiv deal for full antitrust investigation
June 22, 2020--Regulators worry a combined group could offer customers preferential data services.
Brussels has sent the London Stock Exchange Group's planned $27bn takeover of Refinitiv for an in-depth antitrust investigation, with
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Source: FT.com
World's first centrally cleared Bitcoin ETN launched on Xetra
June 18, 2020--Easy access to the performance of the crypto currency Bitcoin / product with full physical collateralisation
The BTCetc Bitcoin Exchange Traded Crypto (ISIN: DE000A27Z304) issued by ETC Issuance, which is the world's first centrally cleared Bitcoin tracker, was listed on Xetra today.
The Exchange Traded Note (ETN) was admitted to the Regulated Market of the Frankfurt Stock Exchange and is fully collateralised by Bitcoin."With the new product, investors can easily participate in the performance of the Bitcoin price without having to use unregulated crypto-trading platforms. Separate infrastructure, such as a crypto wallet, is not required," says Michael Krogmann, board member of the Frankfurt Stock Exchange. "With the world's first centrally cleared Bitcoin ETN, we are also setting new standards in the post-trade processing of products on crypto-currencies."
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Source: Deutsche Börse
New Ossiam ETF on Xetra: Eurozone government bonds with low Co2 emissions
June 18, 2020--Since Thursday a new ETF issued by Ossiam is tradable on Xetra and Börse Frankfurt.
The Ossiam Euro Government Bonds 3-5Y Carbon Reduction-UCITS ETF 1C (EUR) gives investors the opportunity to participate in the performance of euro-denominated government bonds with a residual maturity of three to five years.
The investment universe comprises all bonds of the ICE BofAML 3-5 Year Government index. From this, bonds from countries with low carbon values are preferred, so that the ETF has an average carbon value which is 30 per cent lower than the index. The carbon value is based on the per capita Co2 emission values issued by the European Commission.
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Source: Deutsche Börse
The EU's recovery fund proposals: crisis relief with massive redistribution
June 17, 2020--Poorer European Union countries and those hardest hit economically by the COVID-19 crisis could obtain up to 15% of their GNI in grants and guarantees from the EU' proposed recovery instruments.
Yet the proposal would represent a net benefit for all EU countries, even if there is only a small positive economic impact over the long-term. The proposed very long-maturity loans would lead to non-negligible benefits, exceeding 1% of GDP for some countries.
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Source: bruegel.org
Easygainer -Solactive's Food Delivery Index underlines Vontobel's newly issued Index Tracker
June 16, 2020--In recent years, food delivery services have experienced a surge in demand, which has accelerated significantly during the Covid-19 crisis. With paradigm shifts appearing all over society, the trend of ordering food online ought to consolidate further, resulting in an investment opportunity for asset owners, who want to participate in the potential increase in stocks' values, thereby benefiting from this development in the process.
Solactive recently rolled out its Solactive Food Delivery Index, which now serves as the underlying for an index tracker certificate issued by major investment company Vontobel. To develop the index, Solactive utilized its proprietary Natural Language Processing algorithm ARTIS(R) once more.
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Source: Solactive AG
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