Single-country bond ETNs 거래소상장 국채노트

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Investors get single-country bond ETNs

Exchange-traded notes track Germany, Italy and Japan

Investors can now tap exchange-traded notes to get exposure to sovereign bonds issued by Germany, Italy and Japan as the first single-country bond ETNs hit the market Wednesday.

Deutsche Bank and Invesco PowerShares Capital Management LLC have teamed up again to list a half-dozen new ETNs on NYSE Arca.

The ETNs are designed to track foreign sovereign-bond futures and will be denominated in U.S. dollars. Some of the notes are 300% leveraged and geared to provide three times the month-over-month performance.

The ETNs, which are structured as debt instruments, give investors “a convenient way to take a view on the sovereign debt of Germany, Italy and Japan,” said Martin Kremenstein, chief investment officer at DB Commodity Services, a Deutsche Bank unit.

Deutsche Bank has been working with Invesco PowerShares, an Invesco Ltd. subsidiary, for over five years in the exchange-traded products business.

“One trend in investor flows that I’ve noticed over the past few years is a move toward bond and fixed-income products. Some investors are looking for targeted single-country exposure,” Kremenstein said in a telephone interview.

“It’s difficult to get single-country exposure without using futures,” he added. “We are fulfilling a need in the marketplace.”

The new notes listing Wednesday are: PowerShares DB German Bund Futures ETN, PowerShares DB 3x German Bund Futures ETN, PowerShares DB Italian Treasury Bond Futures ETN, PowerShares DB 3x Italian Treasury Bond Futures ETN, PowerShares DB Japanese Govt Bond Futures ETN and PowerShares DB 3x Japanese Govt Bond Futures ETN. 

(인용: MarketWatch)