Equities
The changing data landscape: Part 1
Central Banking speaks to Eyal Rozen, Ramūnas Baravykas and Wanpracha Chaovalitwongse about whether there is a need to change underlying infrastructure to bolster data-driven policy-making
Israeli reserves grow marginally in October
Portfolio grows due to FX purchases and government transfers from abroad
Green projects ‘demanding’ to find – Norway’s SWF head
Chairman tells lawmakers he may expand fund’s use of external managers
Equities have passed the Covid-19 test, reserve manager says
The higher yield and resilience these assets have offered in 2020 may further boost reserve diversification
DNB paper looks at eurozone’s interest rates
Paper looks at effects of ECB monetary policy shocks on bank equity prices from 1999 to 2020
Swiss National Bank opposes ban on ‘war material’ assets
Central bank says referendum motion is ill-defined and would hurt reserves management
Israeli reserves fall in September
Portfolio shrinks for the first time in 2020, falling by 0.7% due mainly to falls in equities
Bank of Finland research looks at ECB’s effects on eurozone equities
Researcher says eurozone monetary easing has raised eurozone equities’ expected risk premia
Covid-19 fails to interrupt asset diversification – survey
Lower yields remain the top worry of reserve managers in 2020, study finds
Reserve Benchmarks 2020 report – charting new data frontiers
Perspectives on staffing and salaries, reserve coverage, portfolio construction, benchmarking, use of external parties and risk management
Boards are the main authority for benchmark approvals
Risk management teams tend to lead effort to propose new benchmarks
Reserve managers weigh options to escape low yields
Longer-duration and emerging-market bonds may offer the way forward to portfolio managers
Lower-income countries generate highest reserves growth
Most reserves portfolios appear to have weathered the Covid-19 crisis well
BIS warns of gap between market valuations and reality
Corporate credit spreads have tightened, despite what the BIS sees as a looming solvency crisis
Euro failing to challenge US dollar in global reserves – CBI Benchmarks data
Among non-European central banks euro sovereign debt accounts for just 4.1% of reserves; negative rates act as a major barrier, say reserve managers
Israeli reserves reach new record high
Central bank foreign exchange purchases to finance the government deficit in 2020 partly account for increase
Norwegian SWF head sells holdings in bid to end dispute
Nicolai Tangen and central bank try to halt major controversy over possible conflict of interests
BoE says negative rates ‘in toolbox’ and forecasts slow recovery
First “proper” forecast since Covid-19 outbreak gives little hope of a V-shaped recovery
Share buybacks limits monetary policy- BdF paper
Use of low-cost debt for buy-backs cuts spending on employment and capital good- researchers
How vulnerable are EMEs to renewed Covid-19 turbulence?
Emerging markets face twin pressures from the health crisis and global financial forces, says Steve Kamin
Have equities passed the Covid-19 test?
Reserve managers face a rebalancing and asset allocation challenge, with Fed interventions distorting yield curves and boosting equity valuations. What’s next for asset diversification?
Dividends should be subject to macro-pru limits – ECB paper
Measure would reduce volatility in loan supply and equity levels, economist argues
Norges Bank supervisory board strongly criticises contract with new SWF head
Board tells lawmakers the contract agreed by central bank governor lacks sufficient safeguards
A better way to buy private sector securities?
Central bank asset purchases can do more harm than good and are often conducted on a flimsy legal basis, writes HKU’s Bryane Michael