Equity markets have been drifting sideways with a downward bias as low trading volume remains a dominant theme while anticipation ahead of today’s speech at Jackson Hole has also played a key part in keeping a lid on investors’ confidence. Despite the rather uneventful trading activity on Wall Street, investors have digested a number of encouraging releases this week, including a slight pop in housing prices, pending home sales, as well as a solid GDP revision. On the product development front, activity has also been quiet and below we highlight the most recent SEC proposals [see also Billionaires Trust GLD, Why Can't You?].
- Market Vectors Short High-Yield Municipal Index ETF: This fund will be comprised of publicly-traded municipal bonds that cover the U.S. dollar denominated high yield, short-term, tax-exempt bond market. Van Eck currently offers a number of municipal bond funds, of which the Market Vectors High Yield Municipal Index ETF (HYD) holds the number one spot in terms of popularity; HYD boasts $808 million in assets under management since launching in early 2009 [see also Touring The Muni Bond ETF Universe].
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Disclosure: No positions at time of writing.