Government Bonds – Page 6
-
Country ReportCountry Report – Pensions in Italy (July/August 2022)
Italy’s pension industry continues to develop, albeit at a slow pace. Italian pension funds are adapting their strategies to the volatile and uncertain market regime, by purchasing inflation-linked assets and by taking advantage of potentially higher yields on domestic government bonds. However, as our lead article highlights, they are generally staying true to their long-term diversification strategies, which consist of gradually allocating to alternatives including private equity, private debt and infrastructure. Some have bought shares in the Bank of Italy, a private equity-like investment.
-
Special ReportOutlook: Good riddance to negative interest rates
The net effect of setting interest rates below zero is negative, and central banks may be wary of such policies in the future
-
FeaturesFixed income, rates & currency: disappearing safe havens
Risk markets have been having a torrid time of late. ‘Risk-free’ government bond markets are not providing any safe havens in these storms, with curves steepening and considerable volatility in longer rates.
-
Opinion PiecesViewpoint: Swap spreads at stress levels
Asset swap (ASW) spreads are currently trading at historically high levels as volatility in rates markets has remained high. We believe there is an opportunity for continental European pension funds to enter into Euribor receiver swaps and sell Bunds in their matching portfolio. Indeed, we expect that the peak in ...
-
News
PMT, PME ditch ‘authoritarian countries’ from EM index
The two Dutch pension funds have sold Egypt and Vietnam government bonds as a result of the policy change
-
NewsMandate roundup: Swiss pension fund seeks manager for index strategies
Plus: Italian scheme signs up to BNP Paribas’ ESG platform; Mercer wins OCIO contract
-
News
Danish pensions lobby proposes sector pitches in to build national defence
IPD proposes ‘completely new PPP collaboration’, in the light of the war in Ukraine
-
Asset Class ReportsCredit: Anthropocene fixed income
Former credit portfolio manager Ulf Erlandsson is on a mission to shake up the bond markets’ climate-change credentials
-
NewsNorway adds Russia, Belarus to SWF’s bond blacklist; says fund is not policy instrument
North Korea and Syria to remain part of “government bond exemption”, says finance ministry
-
FeaturesFixed income, rates, currencies: Inflation spotlight on central banks
Not often far from the action, central banks have been centre stage in 2022 as one after another in the developed markets reveal their hawkish intents. The speed and synchronicity with which they have shifted has been pretty remarkable, with only the Bank of Japan not yet joining other main central banks.
-
NewsRisk analytics company claims new standard for sovereign ESG analysis
Verisk Maplecroft says its ratings show environmental and social factors are highly material for bond pricing
-
Asset Class ReportsUS banks lead a boom in debt issuance
Capital requirements and locking in cheap funding have prompted banks to issue more bonds, but Europe lags behind
-
Special ReportNextGenEU: Towards a new euro yield curve?
Bonds designed to support member states hit hardest by the pandemic look set to become a new safe asset
-
News
IPD: Danish central bank must ensure green bonds OK for pension funds
Lobby group calls on central bank to liaise with FSA over planned inaugural green bond issuance
-
FeaturesIPE Quest Expectations Indicator - August 2021
The next wave of COVID-19 has come to pass earlier than expected, largely due to new variants. The UK is hard hit, being sensitive to variants Alpha, Beta and Delta. The EU is next in line, with the Netherlands, Spain and Denmark in the forefront and Delta playing a leading role, but other member states are right behind. There is no sign of the next wave in the US yet, but it is sensitive to the variants Gamma and possibly Alpha, which plays a role in Canada.
-
NewsDutch insurer seeks managers for small-cap equity
Plus: Discovery search for global EM fixed income
-
FeaturesBriefing: China bonding with the world
It is tantalising to imagine the concept – that the standard global fixed-income portfolio, which has stood the test of time for so long, may be about to unravel. The standard bearers – US Treasuries, the UK Gilts, German Bunds and Japanese government bonds (JGBs) – may soon have to share the stage with a brash newcomer: Chinese government bonds (CGBs).
-
NewsPMT reduces government bond allocation, ups real estate and infra
The €97bn pension fund’s new strategic asset allocation is supposed to have a lower risk profile
-
News
PFA’s CIO favours equities as perceptions of risk-free shift
Danish pension fund’s portfolio mapping exercise produced allocation insights
-
News
Dutch pension funds undisturbed by rising inflation
Some pension funds have shown increased interest in inflation-linked bonds to hedge against inflation risk
