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Tag Archives: Government Bonds

Lower for Longer: Rising Vulnerabilities May Put Growth at Risk

By Tobias Adrian and Fabio Natalucci عربي, 中文, Español, Français, Português, 日本語, Русский The pace of global economic activity remains weak, and financial markets expect rates to stay lower for longer than anticipated in early 2019. Financial conditions have eased even more, helping contain downside risks and support the global economy in the near term. But loose financial conditions come at a cost: they encourage investors to take more chances in a quest for higher returns, so risks to...

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China Deepens Global Finance Links as It Joins Benchmark Indexes

By Sally Chen, Dimitris Drakopoulos, and Rohit Goel 中文, 日本語 China is embarking on the next stage of its integration into global financial markets. It is a stage that is likely to see a fresh flood of overseas investment, improved liquidity, better governance, and a broader range of instruments. The catalyst: inclusion of Chinese stocks and bonds in a larger number of global financial-market indexes. As Chinese securities are added, investment managers who seek to match or surpass the...

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Transparency Pays: Emerging Markets Share More Data

By Sangyup Choi and Stephanie Medina Cas July 7, 2017 On the move in Mexico City, Mexico: emerging market economies that are transparent with their data can lower their borrowing costs (photo: Edgard Garrido/Reuters/Newscom) If sunlight is the best disinfectant, as US Supreme Court Justice Louis Brandeis once famously said, can it also be a money maker? We have tried to quantify the financial gains from greater transparency that emerging market countries can achieve. Our new...

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Swiss National Bank: Composition of Reserves and Investment Strategy

The Q1/2016 update on the SNB investment strategy and its assets. The Swiss National Bank is a passive conservative investor. As opposed to other investors, the exposure in currencies is as important as the strategic asset allocation according asset classes (bonds, equities, cash, real estate).  The importance of currencies is one reason why the SNB is often called a hedge fund, the second the volatility of gains and losses.The SNB balance sheet looks as follows: In this post we will...

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Swiss National Bank: Composition of Reserves (Assets) and Investment Strategy

The Q1/2016 update on the SNB investment strategy and its assets. The Swiss National Bank is a passive conservative investor. As opposed to other investors, the exposure in currencies is as important as the strategic asset allocation according asset classes (bonds, equities, cash, real estate).  The importance of currencies is one reason why the SNB is often called a hedge fund, the second the volatility of gains and...

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Swiss National Bank: Composition of Reserves and Investment Strategy

We regularly publish the SNB asset structure by currency, rating & duration and the investment strategy. They shall be a template for the tactical asset allocation along these dimensions for other conservative asset managers – CHF holdings certainly excluded because the SNB nearly exclusively buys foreign assets. The SNB balance sheet looks as follows: In this post we will concentrate on the assets side, investment strategy and composition of “FX reserves”.See more on liabilities...

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