Government Bonds – Page 5
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News
NZAOA, BTPS, Church of England back climate performance tool
‘There is no rating or ranking or investment advice, just free, comparable data points for investors to use as they wish,’ says Barron
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Features
Ahead of the curve: Time to automate collateral management
The resilience of financial markets has been tested several times in recent years, from the so-called ‘dash for cash’ at the start of the coronavirus pandemic in March 2020 to the spike in UK Gilt yields in September 2022.
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News
Skandia invests SEK500m in first bond linked to new SWESTR rate
As long-term investor, Swedish pensions firm ‘appreciates transparency’ of new transaction-based reference rate
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Opinion Pieces
Viewpoint: Gilts crisis won’t undermine attractions of private markets for long-term investors
Many of the government’s ambitions to reboot growth in the UK economy require solutions which private assets are well equipped and prepared to provide in a timely manner
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Special Report
Prospects 2023: Does zero China make sense?
Many investors are avoiding the People’s Republic, but they would do well to look at the reality
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Features
IPE Quest Expectations Indicator: December 2022
The Ukrainian offensives look to have petered out and a new initiative will be needed to maintain morale. The US government is once again gridlocked and another debt ceiling fight is likely. The EU seems ready even for a harsh winter, but there are signs of war fatigue. In the UK, Prime Minister Rishi Sunak has apparently learned from the Liz Truss debacle, quickly making the necessary political U-turns, in particular on climate change. Expectations for the COP27 meeting in Sharm El-Sheikh were low. Analyst views indicate increasing belief that the wave of interest rate increases is receding.
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News
Varma diversifies EM bonds away from govvies with $50m in corporates
Finnish pensions heavyweight makes first foray into EM corporate bonds, buying into HSBC AM’s bottom up fixed-income fund
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Opinion Pieces
An uncertain outlook for UK pension journey plans
Following the Bank of England’s (BoE) emergency intervention announced on 28 September to stem the sell-off of long-dated UK government bonds, UK defined benefit (DB) pension funds were kept busy, as falling Gilt prices over the past weeks caused mark-to-market losses in liability-driven investment (LDI) strategies.
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Features
UK sovereign debt in turbulent waters as challenges remain
The buttoned-up Gilts market has never seen or done anything like it. Trusty stalwart of liability matching for defined benefit (DB) pension schemes, the blue-chip security has already poleaxed a British chancellor of the exchequer just a month in office, and has effectively done the same to prime minister Liz Truss.
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Special Report
ESG: Leading viewpoint - rethinking sovereign bonds
Sovereign debt markets are not fit for purpose
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News
UK pensions committee launches inquiry into DB schemes with LDI
Inquiry will focus on impact of recent volatility in Gilt yields on DB schemes with LDI strategies and their regulation and governance
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News
Private equity, mortgages enter net-zero alliance’s protocol in new draft
UN’s investor alliance expands guidance on treatment of sovereign debt in draft of third version of target-setting protocol
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News
PPF’s 7800 index October update shows increase in aggregate surplus
An improved funding position has made insurance more affordable, opening up new opportunities for schemes to pursue derisking activity, says Standard Life
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News
Bank of England keeps tight grip on Gilts market
The purpose of these operations is to enable LDI funds to address risks to their resilience from volatility in the long-dated Gilt market
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News
Bank of England launches additional measures to help LDI market
LDI will continue to play a role in pension fund strategies despite market turmoil
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Asset Class Reports
Emerging market debt: China government bonds
The outlook for Chinese government debt is looking less attractive
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Opinion Pieces
Trustees must assess impact of rate hikes
The Bank of England (BoE) has hiked its policy rate by 50bps to 2.25%, prioritising the fight against inflation over support for growth in its domestic economy. This interest rate increase has hit levels not seen since the end of 2008 but in line with a majority of economists’ consensus.
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Analysis
Analysis: Goodbye, LDI? Too early to say
The sudden and unprecedented rise in Gilt yields, caused by the UK government massive fiscal stimulus announcement, tested the risk management strategies of UK DB schemes
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News
Bank of England intervention eases pressure on DB schemes facing margin calls
Pension funds should proactively look for ways to shore up liquidity, says consultancy
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News
Dutch agri fund sells lower-rated govvies
By reducing or eliminating its allocation to countries such as France and Italy, BPL Pensioen wants to prevent excessive exposure to highly indebted countries