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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
New iShares products on Xetra: access to the digital entertainment and education industry as well as physically hedged Gold ETC with currency hedging
July 7, 2022--Since Thursday, a new exchange traded fund and a new exchange traded commodity from iShares are tradab,e on Xetra and via the trading venue Börse Frankfurt.
The iShares Digital Entertainment and Education UCITS ETF USD (Acc) offers investors the opportunity to invest in companies from developed and emerging markets that generate significant revenues from digital entertainment and education.
Companies in areas such as controversial weapons, tobacco, nuclear power and genetically modified organisms are excluded.
The iShares Physical Gold EUR Hedged ETC is a debt security that tracks the performance of the gold price and is backed by physically deposited gold. All gold bars deposited meet the LBMA's good delivery criteria. This ensures that the gold bars come from responsible and sustainable sources. This is a currency-hedged product, which means that the impact of exchange rate fluctuations is minimised.
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Source: xetra
ECB-Account of the monetary policy meeting of the Governing Council of the European Central Bank held on 8-9 June 2022
Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Amsterdam on Wednesday and Thursday, 8-9 June 2022J,
July 7, 2022--1. Review of financial, economic and monetary developments and policy options
Financial market developments
Ms Schnabel reviewed the latest financial market developments. Since the Governing Council's previous monetary policy meeting on 13-14 April 2022, there had been a major shift in monetary policy expectations and actions around the world as inflation had continued to surprise to the upside.
The main developments in financial markets revolved around four main themes. First, volatility in financial markets was high by historical standards, reflecting the longer than expected persistence of high inflation and the associated uncertainty about the extent and pace of monetary policy adjustment required to restore price stability over the medium term. Second, monetary policy normalisation in the euro area was expected to proceed at a significantly faster pace than at the time of the Governing Council's 13-14 April meeting, with a rate lift-off expected in July.
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Source: ECB
ESMA publishes latest edition of its Newsletter
July 6, 2022--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has today published its latest edition of its Spotlight on Markets Newsletter.
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Source: ESMA
Mobilising EU investors to narrow the developing-country climate-finance gap
July 6, 2022--The EU needs to address through blending of public and private funds the lack of private climate finance being channelled to low- and middle-income countries
Collectively, the European Union and its members are the largest providers of public sector funds for climate mitigation and adaptation in developing countries.
The European Commission's sustainable finance strategy, updated in July 2021, set the goal of also scaling up the so-far miniscule private climate finance in low- and middle-income countries. This tied in well with the change of strategy at the European Investment Bank, which in December 2020 re-styled itself as a 'climate bank', and whose sizable balance sheet could be deployed outside the EU.
If designed well, a blending of public EU resources with the ample private institutional capital that targets sustainability outcomes could mobilise substantial funds. To identify the right partners, any new EU scheme should be announced ahead of the United Nations COP27 climate summit in November 2022, which will be hosted by Egypt and will focus on developing countries.
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Source: bruegel.org
How rate increases could impact debt ratios in the euro area's most-indebted countries
July 5, 2022--Debt-to-GDP ratios should continue to fall in euro-area countries despite rising interest rates, though after 2023 the situation might vary across countries
Spreads versus German yields for the euro-area countries with the highest debt-to-GDP ratios have increased significantly since September 2021. Even if spreads are not yet at the worrying levels of previous stress episodes (and have decreased since the European Central Bank's 15 June announcement that it is finally working on a new fragmentation tool), this increase could still represent a risk at a time when growth is slowing quickly because of the energy crisis caused by Russia's invasion of Ukraine, and when many countries have historically high levels of debt after the highly expansive fiscal policy put in place during the COVID-19 crisis.
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Source: bruegel.org
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