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ECB-Euro area economic and financial developments by institutional sector: fourth quarter of 2019
April 29, 2020--Euro area net saving increased to €853 billion in the four quarters to the fourth quarter of 2019, compared with €826 billion in the four quarters to the previous quarter.
Euro area net non-financial investment decreased to €563 billion (from €586 billion previously), due to decreased investment by non-financial corporations. Euro area net lending to the rest of the world increased to €298 billion (from €249 billion previously).
The household debt-to-income ratio[1] stood broadly unchanged, at 93.7% in the fourth quarter of 2019, as compared with the fourth quarter of 2018.
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Source: ECB
New iShares ETF on Xetra: inflation protected government bonds with currency hedging
April 29, 2020--A new iShares ETF offers exposure to inflation-linked government bonds from developed countries.
Since Wednesday, a new exchange traded fund of iShares has been tradable on Xetra and Börse Frankfurt.
The iShares Global Inflation Linked Govt Bond UCITS ETF EUR Hedged (Acc) allows investors to participate in the performance of inflation protected government bonds from industrialised countries worldwide. To be included in the index, the bonds must have an investment grade rating and a minimum residual maturity of one year. Investors are hedged against currency risks against the Euro.
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Source: Deutsche Börse
ECB-Monetary developments in the euro area: March 2020
April 29, 2020--Annual growth rate of broad monetary aggregate M3 increased to 7.5% in March 2020 from 5.5% in February
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, increased to 10.3% in March from 8.1% in February
Annual growth rate of adjusted loans to households decreased to 3.4% in March from 3.7% in February
Annual growth rate of adjusted loans to non-financial corporations increased to 5.4% in March from 3.0% in February
Components of the broad monetary aggregate M3
The annual growth rate of the broad monetary aggregate M3 increased to 7.5% in March 2020 from 5.5% in February, averaging 6.0% in the three months up to March. The components of M3 showed the following developments.
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Source: ECB
ESG Briefing: AllianzGI sees 560% growth in sustainable assets
April 29, 2020--Allianz Global Investors increased sustainable investments to €165bn by the end of 2019-amounting to growth of 560% in three years. The firm has introduced 28 sustainability or impact strategies, through a combination of new products and updates to existing strategies.
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Source: responsible-investor.com
Selection indices: Unscheduled changes in SDAX and TecDAX
April 28, 2020--On Monday, Qontigo's global index provider STOXX Ltd. announced unscheduled changes to the SDAX index and TecDAX index.
Due to the takeover of RIB Software SE (DE000A0Z2XN6) by Schneider Electric SE (FR0000121972) the free float of RIB Software SE falls below 10 percent.
According to the Guide to the DAX Equity Indices, section 5.1.5. Adjustments in the Case of Mergers and Acquisitions, RIB Software SE shares will be deleted from SDAX and TecDAX. They will be replaced by Stratec SE (DE000STRA555) in the SDAX index and by Draegerwerk AG & Co KGaA (DE0005550636) in the TecDAX index.
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Source: boerse-frankfurt.de
BlackRock strengthens ESG push with new ETF launch
April 27, 2020--Asset manager reaches further into sustainability-focused passive product with series of minimum volatility strategies.
BlackRock has expanded its ESG offering with three new ETFs which will provide exposure to developed world companies, European companies and US companies.
The new funds are as follows:
iShares EDGE MSCI World Minimum Volatility ESG UCITS ETF
iShares EDGE MSCI Europe Minimum Volatility ESG UCITS ETF
iShares EDGE MSCI USA Minimum Volatility ESG UCITS ETF
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Source: citywireselector.com
Pimco integrates European ETF business into global unit
April 27, 2020--Asset manager ends distribution agreement with Invesco and focuses on expanding its European offering in the passive space.
Pimco has integrated its Ucits-compliant European ETFs business into its wider global operations as part of plans to expand its specialist fixed income coverage.
The arrangement sees Pimco end its European distribution partnership with Invesco, which will conclude on 12 June 2020. The companies agreed a seamless transition process in 2019.
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Source: citywireselector.com
U.K. Labor Market Outlook Is 'Horrendous,' Economists Warn
April 23, 2020--Output shrinking faster than in financial crisis, PMIs show
Outlook for jobs is 'horrendous,' former BOE policy maker says.
The price the U.K. is paying for the coronavirus lockdown is becoming clearer as output shrinks at the fastest pace in decades and the government rolls out a borrowing plan that dwarfs the response to the global financial crisis.
The outlook for jobs is "horrendous" and the contraction could become the worst in several centuries, current and former Bank of England policy makers said on Thursday. A quarter of the labor market is already effectively out of work, and the government’s rescue program will force public debt to surge, reports showed.
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Source: bloomberg.com
ESAs consult on Environmental, Social and Governance disclosure rules
April 23, 2020--The three European Supervisory Authorities (EBA, EIOPA and ESMA -ESAs) have today issued a Consultation Paper seeking input on proposed environmental, social and governance (ESG) disclosure standards for financial market participants, advisers and products.
These standards have been developed under the EU Regulation on sustainability-related disclosures in the financial services sector (SFDR), aiming to:
strengthen protection for end-investors;
improve the disclosures to investors from a broad range of financial market participants and financial advisers; and
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Source: ESMA
ECB Could Be Europe's Back Door to Sharing Its Debt Burden
April 22, 2020--Euro-zone leaders who oppose sharing the costs of the coronavirus crisis might end up doing so anyway--through the European Central Bank.
The idea that the ECB could absorb the massive debt that builds up in the recession is gaining traction among some economists. If done carefully and over a long period, they say, it could get around the legal ban on so-called monetary financing.
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Source: bloomberg.com
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