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FLOT

A Dead Cat Bounce?

by on June 18, 2011

The last week was an up-and-down stretch for global equity markets, as the intensifying crisis in Greece dominated headlines and investors scrambled to analyze the potential fallout from what seems increasingly likely to be a default on sovereign debt obligations. The jump in equity markets–which snapped a six week losing streak–wasn’t really attributable to good news or positive outlooks on either the domestic or international front. Steep sell-offs in recent weeks led to some attractive valuations, prompting bargain hunters to scoop up risky assets that have been pummeled over the last month or so.

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Continuing a recent trend on the fixed income side of the ETF arena, iShares announced the launch of an ETF that offers exposure to floating rate debt. The new Floating Rate Note Fund (FLOT) will seek to replicate the Barclays Capital US Floating Rate Note < 5 Years Index, a benchmark that includes about 300 dollar-denominated, investment grade floating rate debt securities with less than five years remaining to maturity. [click to continue…]

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