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Reforms Can Support Inclusive Growth in Turbulent Economic Times
July 18, 2022--Reforms supported by investments in green and digital infrastructure and human capital can boost, and even double, the growth potential in some EU member states between now and 2030, according to a new World Bank report.
The latest European Union Regular Economic Report-Living Up to Potential in the Wake of Adverse Shocks - reviews how some EU member states can navigate turbulent economic times to foster long-term growth and inclusion following a pandemic, an ongoing conflict in the region and a cost of living crisis.
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Source: worldbank.org
ETFGI reports the ETFs industry in Europe reported net outflows of 522 million US dollars in June after 26 months of consecutive net inflows
July 15, 2022--July 15, 2022--ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs/ETPs ecosystem, reported today reports the ETFs industry in Europe reported net outflows of US$522 million in June after 26 months of consecutive net inflows, bringing year-to-date net inflows to US$68.17 billion.
During the month, assets invested in the European ETF/ETP industry decreased by 7.3%, from US$1.48 trillion at the end of May to US$1.37 trillion, according to ETFGI's June 2022 European ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Assets of $1.37 Tn invested in ETFs and ETPs listed in Europe at the end of H1 2022.
Assets decreased 14.0% in H1 2022, going from $1.60 Tn at end of 2021 to $1.37 Tn.
Net outflows of $522 Mn in June 2022 after 26 consecutive months of net inflows.
Net inflows of $68.17 Bn are the second highest on record in H1 2022, after net inflows of $111.97 Bn in H1 2021.
$149.84 Bn in net inflows gathered in the past 12 months.
1st month of net outflows.
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Source: ETFGI
Euro reaches parity with dollar for the first time in 20 year
July 12, 2022---The euro and the dollar have reached parity for the first time in 20 years, signalling the market's assumption that the European economy is heading for a deep recession as a result of Russia's invasion of Ukraine.
Today, 1 EUR equals 1 USD.
The shift means European companies and consumers will pay more for the goods and services they import, while European exports become immediately cheaper in international markets.
The euro has experienced a dramatic loss of value since early February when it was worth over $1.13.
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Source: euronews.com
New equity index ETFs from HSBC on Xetra: access to companies worldwide, from emerging markets, the USA and the Eurozone
July 12, 2022--Four new exchange traded funds from HSBC have been tradable on Xetra and via Börse Frankfurt since Tuesday.
With the HSBC MSCI World UCITS ETF, investors invest in an equity portfolio from 23 industrialised nations worldwide.
The MSCI World Index currently comprises 1,540 large and medium-sized companies from various sectors and thus covers around 85 percent of the market capitalisation. Companies from the USA, Japan and Great Britain are most strongly represented in the index.
The HSBC MSCI Emerging Markets UCITS ETF offers investors access to large and medium-sized companies from 24 emerging markets. With currently around 1,400 stocks, the MSCI Emerging Markets Index covers 85 per cent of the market capitalisation of each of these countries, with most companies coming from China, Taiwan, South Korea and India. The two sectors, information technology and financial services, are the most heavily represented, at around twenty per cent each.
The HSBC S&P 500 UCITS ETF tracks the performance of the 500 largest listed US companies across the major sectors. The S&P 500 Index is considered an indicator for the development of the entire US equity market.
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Source: Xetra
New Xtrackers bond ETF on Xetra: access to high-yield corporate bonds with ESG filter
July 12, 2022--A new exchange-traded fund from Xtrackers has been tradable on Xetra and via Börse Frankfurt since Tuesday.
The Xtrackers ESG USD High Yield Corporate Bond UCITS ETF offers investors the opportunity to invest in high-yield corporate bonds denominated in US dollars.
The high yield bonds must be fixed rate and rated below Ba1/BB+. In addition, bonds from issuers that are classified as unsustainable according to ESG criteria or exceed certain limits for controversial activities are excluded.
Name: Xtrackers ESG USD High Yield Corporate Bond UCITS ETF
Asset class: Fixed Income ETF
ISIN: IE0006YM7D84
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Source: Xetra
Deutsche Borse Welcomes Eqonex as New ETN Issuer on Xetra
July 11, 2022--Access to Bitcoin performance with physical collateralisation
Since Monday, a cryptocurrency product from issuer Eqonex Investment Products has been tradable on Xetra and via the Frankfurt Stock Exchange trading venue for the first time.
The Eqonex BTC Tracker is a debt security that tracks the performance of the cryptocurrency Bitcoin and is secured by physically deposited Bitcoin. This gives investors easy access to the cryptocurrency Bitcoin without having to own crypto wallets. Through central clearing, investors also benefit from the significant reduction of risks in the settlement of their transactions.
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Source: Xetra
ECB climate stress test flags $71 billion risk to euro zone banks
July 8, 2022--A sudden jump in carbon prices coupled with floods and droughts this year would lead to losses of at least 70 billion euros ($71.1 billion) for the euro zone's largest banks, the European Central Bank said on Friday.
The ECB said the estimate in its first climate stress test significantly understated actual losses for the 41 banks in the sample because it focused only on credit and market risk and did not take account of indirect effects such as an economic downturn.
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Source: reuters.com
New Xtrackers bond ETFs on Xetra: access to high-yield corporate bonds and eurozone government bonds
July 8, 2022--Two new exchange traded funds from Xtrackers have been tradable on Xetra and via Börse Frankfurt since Friday.
The Xtrackers ESG EUR High Yield Corporate Bond UCITS ETF offers investors the opportunity to invest in high-yield corporate bonds denominated in euros.
The high yield bonds must be fixed rate and rated below Ba1/BB+. In addition, bonds from issuers that are deemed unsustainable based on ESG criteria or exceed certain caps on controversial activities are excluded.
The Xtrackers II ESG Eurozone Government Bond UCITS ETF provides investors with access to Euro denominated government bonds issued by developed countries in the Eurozone with an investment grade rating. To be included in the reference index, issuers must be classified as "free" by Freedom House and exceed a certain threshold in terms of their ESG score.
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Source: Deutsche Börse
BlackRock Sees 30% Jump in Flows to Suite of Climate ETFs
July 7, 2022--The nine funds that track EU-regulated climate transition benchmarks attracted $2.7 billion this year as of mid-June.
BlackRock Inc.'s greenest exchanged-traded funds have seen a 30% increase in inflows as investors seek out the most credible ESG products amid a wider cooling toward the industry.
The nine ETFs, which have tracked EU-regulated climate transition benchmarks since October, attracted a net $2.7 billion this year as of mid-June, bringing the total amount held in the funds to $11.6 billion, BlackRock said.
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Source: bloomberg.com
IMF Staff Country Reports-Ireland: Selected Issues
July 7, 2022--ENSURING AN INCLUSIVE AND GROWTH-ENHANCING FISCAL POLICY MIX 1A. Context1.
Ireland revenue intake has been strong in recent years, but its tax base remains narrow and reliance on income taxes has increased fiscal vulnerabilities.
In particular, increased reliance on potentially volatile and highly concentrated corporate income tax (CIT) revenues on the one hand, and growing expenditure pressures on the other present a challenge to the sustainability of public finances and requires preemptive reforms to broaden the tax base, reduce tax expenditures, and raise the efficiency of public spending. Furthermore, long-term demographic trends highlight the need for reforms to safeguard the sustainability of the pension system.
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Source: imf.org
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