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ESMA sees risk of market corrections in uneven recovery
September 1, 2021--The European Securities and Markets Authority (ESMA), the EU securities markets regulator, today publishes its second Trends, Risks and Vulnerabilities (TRV) Report of 2021 . The Report highlights the continued rise in valuations across asset classes in an environment of economic recovery and low interest rates, the increased risk taking of investors and the materialisation of event risks such as GameStop, Archegos and Greensill.
ESMA continues to see elevated risks and fragile fundamentals, with an outlook for continued high risk and uncertainty over the sustainability of corporate and public debt as well as rising inflation expectations. Current market trends need to show their resilience over an extended period of time to allow for a more positive risk assessment. The extent to which these risks will materialise will critically depend on market expectations on the continuation of monetary and fiscal policy support, as well as on the pace of the economic recovery and on inflation expectations.
New iShares ETF on Xetra: global investment in government and corporate bonds with sustainability filter
August 27, 2021--A new iShares ETF provides exposure to government and corporate bonds with sustainability filters.
A new exchange-traded fund from issuer iShares has been tradable on Xetra and Börse Frankfurt since Friday.
The iShares Global Aggregate Bond ESG UCITS ETF EUR Hedged (Acc) covers a broad range of fixed-income and local-currency debt instruments from developed and emerging markets worldwide. In addition to government and quasi-sovereign bonds, investors also invest in corporate bonds and securitised bonds.
Debt instruments with a minimum residual term of one year and an investment rating are included. At least ten percent of the index consists of green bonds. Green bonds are debt instruments that finance climate and environmental projects such as alternative energies, environmentally friendly buildings, or the reduction of greenhouse gases.
New Invesco ETF on Xetra: access to sustainable companies from developed countries in the Pacific region excluding Japan
August 27, 2021--A new exchange traded fund from issuer Invesco has been tradable on Xetra and Börse Frankfurt since Friday.
The Invesco MSCI Pacific ex Japan ESG Universal Screened UCITS ETF-Acc offers investors an investment in large and medium-sized companies from four of the five developed countries in the Pacific region. These include Australia, Hong Kong, New Zealand and Singapore. Stocks from Japan, on the other hand, are not included.
Companies with significant business activities in tobacco, thermal coal, oil sands, controversial or chemical weapons, and recreational cannabis are excluded. Similarly, companies must not be involved in controversies that violate applicable norms and accepted standards.
The weighting of individual stocks is based on sustainability factors with the aim of overweighting those companies that have a robust ESG profile and are taking measures to help improve this profile.
The weighting of a stock is limited to a maximum of five per cent. Any dividend payments are reinvested.
New Amundi ETF on Xetra: Eurozone government bonds with an investment grade rating below "AAA"
August 26, 2021-A new exchange traded fund from issuer Amundi has been tradable on Xetra and Börse Frankfurt since Thursday.
With the Amundi Govt Bond Lowest Rated EuroMTS Investment Grade UCITS ETF DR-EUR (D), investors invest in euro-denominated, fixed-income government bonds issued by Eurozone member states governments.
Debt instruments that are tradable on the MTS platform, have a minimum remaining maturity of one year and a minimum outstanding volume of two billion euros are taken into account. In addition, they must not have been assigned the best possible rating of "AAA" or "Aaa" by any rating agency.
Any coupon payments are distributed to the investors.
New GPF ETCs on Xetra: investment in copper and nickel with physical hedging
August 26, 2021-Two new exchange traded commodities from issuer GPF Metals have been tradable on Xetra and Börse Frankfurt since Thursday.
With the GPF Physical Copper ETC Securities and the GPF Physical Nickel ETC Securities, investors participate in the performance of the industrial metals copper and nickel.
It is an exchange-traded debt security backed by physically deposited copper and nickel. The deposited commodities are held in a secured warehouse in Rotterdam and meet the LME's Good Delivery criteria, ensuring that they come from responsible and sustainable sources.
Name: GPF Physical Copper ETC Securities
Asset class: ETC
ISIN: XS2314659447
On-going charges: 0.85 per cent
ETF fee cuts fail to win over European investors, says State Street executive
August 26, 2021--The rush to lower fees in the European exchange traded fund market has not helped providers grow market share, according to a senior executive at State Street Global Advisors.
In recent years ETF issuers have launched "low-cost building blocks" in core areas, such as US and European large-cap equities, often by shunning the best-known index benchmark providers.
ECB-Meeting of 21-22 July 2021 Account of the monetary policy meeting of the Governing Council of the European Central Bank
August 26, 2021--Held in Frankfurt am Main on Wednesday and Thursday, 21-22 July 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 9-10 June 2021.
Long-term government bond yields had declined notably across advanced economies, including in the euro area, despite the ongoing strong recovery from the shock of the coronavirus (COVID-19) pandemic.
Model-based evidence on the drivers of euro area yields suggested that a very large share of the recent decline in euro area risk-free rates reflected foreign spillovers, mainly in the form of an increase in global risk aversion. The fast spread of the Delta variant of the coronavirus and rising infection rates across many countries had likely been the main reason behind the increase in global risk aversion, as also reflected in the ratio of value to growth stocks having fallen markedly in recent weeks. Although the experience of the United Kingdom suggested that, so far at least, progress in vaccination campaigns had succeeded in weakening the link between the number of infections and hospitalisation rates, the Delta variant had instilled new uncertainties about the path to economic normalisation, thereby weighing on yields in recent weeks.
Official Statistics: Forecasts for the UK economy: August 2021
August 26, 2021--A comparison of independent forecasts for the UK economy in August 2021.
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ECB-Monetary developments in the euro area: July 2021 New Amundi ETF on Xetra: climate,friendly and sustainable companies from Asian emerging markets
Companies that do not comply with the principles of the United Nations Global Compact, are involved in serious ESG-related controversies, or have significant business activities in the areas of thermal coal, weapons or tobacco are excluded from the index.
August 26, 2021--Annual growth rate of broad monetary aggregate M3 decreased to 7.6% in July 2021 from 8.3% in June
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, decreased to 11.0% in July from 11.8% in June
Annual growth rate of adjusted loans to non-financial corporations stood at 1.7% in July, compared with 1.8% in June
August 24, 2021--Since Tuesday, a new exchange traded fund of the issuer Amundi has been tradable on Xetra and Börse Frankfurt.
The Amundi Index MSCI EM Asia SRI -UCITS ETF DR (D) gives investors the opportunity to participate in the performance of large and medium,sized companies from nine emerging markets in Asia that stand out in their sector due to their high environmental, social and corporate governance ratings.
The benchmark index is currently composed of 132 stocks, with the majority of companies based in China, India, South Korea, Taiwan and Thailand. The weighting of a stock is limited to a maximum of five per cent. This is a distributing share class in which dividend income is paid out to investors.
