“A wave of selling caused many exchange traded funds to tumble below the value of their underlying assets as a bond market sell-off caused stress in the $2 trillion ETF industry. Emerging-markets ETFs were among the worst affected, as investors took fright that the end of Federal Reserve monetary easing would lead to outflows from developing countries. The selling also caused disruptions in the plumbing behind several ETFs. Citigroup stopped accepting orders to redeem underlying assets from ETF issuers, after one trading desk reached its allocated risk limits. State Street said it would stop accepting cash redemption orders for municipal bond products from dealers.”
http://www.cnbc.com/id/100833270
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
NSA surveillance reach broader than publicly acknowledged
Ecuador launches new digital currency after banning competitors
China Eclipses U.S. as Biggest Trading Nation
Thousands flood Istanbul’s protest square after police clashes
Bank of Cyprus savers could lose up to 60%
Margin Debt Hits Record High
Obama on Iran: Diplomacy can work when backed with military threats
Senate committee chair: U.S. will likely have more active military role in Mali
Funny Money Or New Economy? Alternative Currency Raises Tax, Other Challenges
New currency in Slovakia?
Currency Controls in Cyprus Increase Worry About Euro System
Myanmar faces big setbacks to implement stock exchange
Juniper warns of backdoor spying code in firewalls
Sandy victims furious as FEMA troubles begin to build
Feds, truckers clash over new safety rules expected to increase shipping costs