(Bloomberg) -- The share of A-rated bonds in the Swiss National Bank’s foreign-exchange portfolio inched up to 11 percent in the second quarter. While that’s just a 1 percentage-point increase from the prior three months, it’s indicative of a broader trend: the proportion of top-rated fixed-income securities has declined by more than a quarter in the past five years. That’s at least partly linked to sovereign downgrades.
--With assistance from Marianna Aragao To contact the reporter on this story: Catherine Bosley in Zurich at firstname.lastname@example.org. To contact the editors responsible for this story: Fergal O'Brien at email@example.com, Zoe Schneeweiss, Jana Randow
©2016 Bloomberg L.P.