Central banks still value diversification, say reserve managers

The sharp increase in US sovereign debt yields in the past few months is unlikely to result in central bankers ending their decade-long pursuit of foreign exchange diversification, according to delegates attending National Asset and Liability Management Americas 2018.

Central banks have sought alternatives to US dollar sovereign assets by investing in a greater range of reserve-currency sovereign debt, agency-backed and corporate debt, equities and other instruments.

This was partly the result