Back-and-forth trading dominated Wall Street throughout most of the week as investors were kept on their toes ahead of Thursday’s FOMC meeting. The much-anticipated Bernanke press conference left markets satisfied as the Fed Chairman officially announced QE3; stocks around the globe surged higher on the day as investors expressed their joy over the latest stimulus initiative in hopes that it would bolster recovery efforts at home. Amid a busy week on Wall Street, new product launches were sparse while Van Eck laid out plans for two fixed income funds and Global X cut the fee on its dividend-focused offering [see also 3 Countries With The Largest Gold Reserves].
- Market Vectors Emerging Markets Aggregate Bond ETF: This ETF will be comprised of debt securities issued by emerging markets issuers. The underlying basket of holdings will include local currency debt of sovereign and non-sovereign emerging markets issuers, spreading exposure across both investment grade and below investment grade rated securities [see also 5 ETFs For Fiscally-Sound Emerging Markets].
- Market Vectors Emerging Markets USD Aggregate Bond ETF: Similar to the ETF profiled above, this fund will also consist of sovereign and non-sovereign debt that is both investment grade and below investment grade rated. As the name suggests, the distinguishing feature of this ETF will be the fact that all holdings are denominated in U.S. dollars, unlike its counterpart which is denominated in local currencies.
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Disclosure: No positions at time of writing.