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New Invesco ETF launched on Xetra: US dollar-denominated CoCo bonds from companies in industrialised countries
June 29, 2019--A new exchange traded fund issued by Invesco Asset Management is tradable on Xetra and Börse Frankfurt since Thursday.
The Invesco AT1 Capital Bond UCITS ETF EUR Hdg Dist enables investors to participate in the performance of contingent convertible bonds issued worldwide by banks from industrialised countries and denominated in US dollars.
Contingent convertible bonds are long-term subordinated bonds that obligatorily convert from debt into equity if a pre-specified trigger event occurs. They are therefore a type of hybrid bond with equity-like features
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Source: Deutsche Börse Cash Market
Flow Traders NV: BinckBank and Flow Traders complete sale of Think ETF Asset Management B.V.
June 29, 2018--BinckBank N.V. (60%), Flow Traders N.V (24%) and Think ETF's management (16%) together announce that, further to the press release on January 19th 2018, the sale of their stakes in Think ETF Asset Management B.V. to Van Eck Associates Corporation has been completed.
Van Eck has received almost full ownership of Think ETF Asset Management B.V., only management of Think ETF Asset Management B.V. will retain a small stake.
Financial details of the transaction will not be disclosed at this stage.
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Source: Flow Traders
Boerse Stuttgart offers bond settlement in foreign currencies
June 28, 2018--7,000 debt securities (bonds) in 20 different foreign currencies already tradeable without need for conversion into euros
New FXplus technical platform
Since April, Boerse Stuttgart has been offering trading participants the possibility to choose to settle foreign currency bond transactions not only in Euro but also in the currency of nominal value.
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Source: Boerse Stuttgart
S&P Dow Jones Indices-Index Dashboard:Europe
June 28, 2018--Summary
As trade tensions soured sentiment across global equity markets, the S&P Europe 350 fell 0.57% this month. However, gains earlier in the quarter-particularly from the U.K.-meant the European equity benchmark posted a 4.42% quarterly total return.
A re-emergence of European political risk also contributed to the European equity
benchmark's decline this month. Eurosceptic rhetoric from the newly -formed Italian
coalition is expected to put it at odds with the E.U. Markets also reacted poorly to
growing speculation that Germany's coalition government may collapse over the issue
of migration; it remains to be seen if last night's deal among European leaders will be sufficient for Chancellor Angela Merkel to appease her Bavarian allies.
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Source: S&P Dow Jones Indices
IMF-Ireland: Selected Issues
June 28, 2018--BUSINESS CYCLE IN IRELAND: ACCOUNTING FOR OPEN LABOR MARKET AND MULTINATIONALS1
Assessing the business cycle in Ireland is complicated by the open character of its labor market and
large presence of globally active multinationals. This chapter takes into account these features of
the Irish economy when estimating potential output and the cyclical position.
Results point to a strong recent rebound of potential growth as well as a currently advanced cyclical position, with a
positive and widening output gap.
A. Introduction
1. This chapter estimates the cyclical position of the Irish economy. The recent
publication of the GNI* and other related indicators, which help to identify the large global
activities of multinationals and provide a better measure of the size of the domestic economy,
has invited for a deeper analysis of the cyclical position of the Irish economy.2 A better understanding of the cyclical position is essential for macroeconomic diagnostics, including
assessing external sustainability and determining an appropriate fiscal policy stance.
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Source: IMF
Two new active ETFs issued by Franklin Templeton on Xetra: Investment grade bonds in euros or US dollars
June 26, 2018--Two active ETFs issued by Franklin Templeton are tradable on Xetra and Börse Frankfurt as of Tuesday.
The Franklin Liberty Euro Short Maturity UCITS ETF enables investors to participate in the performance of euro-denominated bonds with short maturities.
The ETF is actively managed and invests in both government and corporate bonds with fixed or variable coupons that have an investment grade rating or are considered equivalent by investment management. The ETF can also invest up to 20 percent of its net assets in non-investment grade bonds.
The Franklin Liberty USD Investment Grade Corporate Bond UCITS ETF enables investment in investment grade bonds denominated in US dollars and issued by US or other foreign companies.
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Source: Deutsche Börse Cash Market
New Xtrackers ETF on Xetra: 600 European companies with currency hedging
June 26, 2018--A new exchange traded fund issued by DWS is tradable on Xetra and Börse Frankfurt as of Tuesday.
This equity ETF allows investors to participate in the performance of the STOXX 600 Index, which comprises shares from 600 large, mid and small cap companies from western Europe.
Index components are weighted based on their relative size, with a maximum of 20 percent. The ETF uses a hedging strategy to minimise the exchange rate risk between the base currency of the index components and the euro.
Name: Xtrackers Stoxx Europe 600 UCITS ETF 2C-EUR Hedged
Asset class: equity ETF
ISIN: LU1772333404
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Source: Deutsche Börse Cash Market
European Commission-Annual report on Trade and Investment Barriers
June 26, 2018--The Commission eliminated in 2017 the highest number ever of trade barriers faced by EU companies doing business abroad
The annual report on Trade and Investment Barriers, released today, shows that the European Commission has eliminated the highest number ever of trade barriers faced by EU companies doing business abroad. European exporters reported a major increase in protectionism in 2017.
The report highlights that thanks to the EU's enhanced Market Access Strategy, 45 obstacles were lifted fully or in part in 2017-more than twice as many as in 2016. The barriers removed spanned across 13 key EU export and investment sectors, including aircraft, automotive, ceramics, ICT & electronics, machinery, pharma, medical devices, textiles, leather, agri-food, steel, paper, and services.
view the European Commission report on Trade and Investment Barriers
Source: Europa
State Street Global Advisors appoints Marcus Miholic
June 25, 2018--State Street Global Advisors SPDR has appointed Marcus Miholich as head of capital markets for Europe, the Middle East, and Africa (EMEA), and Asia-Pacific (APAC).
Based in London, Miholich will report to Tim Coyne, global head of capital markets for the global SPDR business.
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Source: assetservicingtimes.com
European Fund-Flow Trends: May 2018-A grim month for long-term mutual funds
June 25, 2018--European investors pulled back from long-term mutual funds as the market environment and the general sentiment turned negative. As a consequence, May was the first month posting net outflows from long-term mutual funds after 16 consecutive months showing net inflows.
That said, European fund promoters still enjoyed net inflows into mixed-asset funds (+€2.5 bn), followed by commodity funds (+€1.4 bn) and alternative UCITS funds (+€1.4 bn) as well as real estate funds (+€0.4 bn), while net flows to “other” funds (-€0.8 bn), equity funds (-€7.4 bn) and bond funds (-€15.9 bn) were negative.
These fund flows added up to overall net outflows of €18.5 bn into long-term investment funds for May. ETFs contributed €1.6 bn to these flows.
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Source: Detlef Glow, Thomson Reuters
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