Bullish euphoria continues to drive price action on Wall Street as major equity indexes creep higher and higher, adding weight to the bears’ prediction for a steep correction by the day. With few economic data releases slated to hit the homefront this week, several issuers have already taken advantage of the calm seas; PIMCO, First Trust, Exchange Traded Concepts and Market Vectors all rolled out new ETFs on February 12, marking the first official “launch frenzy” of 2013 [see 3 Economic Charts Bears Love To Ignore]. Industry giant PIMCO added a currency fund to its growing lineup, bringing the total product count to 20 funds: Foreign Currency Strategy Exchange-Traded Fund (FORX): This actively-managed ETF costs 0.65% and invests in a combination of short-term fixed-income notes, money market securities and currency forwards backed by high-quality, low-duration securities. The fund managers select the underlying basket of non-U.S. dollar holdings based on their evaluation of relative interest [...] Click here to read the original article on ETFdb.com. Related Posts: ETFdb Analyst Picks: Bull Run Holds For Now ETFdb Analyst Picks: Optimism Fuels Rebound ETFdb Analyst Picks: Fiscal Cliff Woes Are Here To Stay ETFdb Analyst Picks: Buy On This Dip With Caution UBS Launches Mortgage REIT ETN With A 24.8% Yield
Bullish euphoria continues to drive price action on Wall Street as major equity indexes creep higher and higher, adding weight to the bears’ prediction for a steep correction by the day. With few economic data releases slated to hit the homefront this week, several issuers have already taken advantage of the calm seas; PIMCO, First Trust, Exchange Traded Concepts and Market Vectors all rolled out new ETFs on February 12, marking the first official “launch frenzy” of 2013 [see 3 Economic Charts Bears Love To Ignore]. Industry giant PIMCO added a currency fund to its growing lineup, bringing the total product count to 20 funds: Foreign Currency Strategy Exchange-Traded Fund (FORX): This actively-managed ETF costs 0.65% and invests in a combination of short-term fixed-income notes, money market securities and currency forwards backed by high-quality, low-duration securities. The fund managers select the underlying basket of non-U.S. dollar holdings based on their evaluation of relative interest [...]
Click here to read the original article on ETFdb.com.
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