US Wrap: Market snaps into action to kickstart week

The US market sprang to life yesterday, offering 10 new products, the majority of which were reverse convertibles, with Barclays Bank using the structure to give investors exposure to three different commodities: gold, silver and oil, each represented by their corresponding exchange-traded fund.

The gold note is linked to the SPDR Gold Trust, which pays an annualised coupon of 9.5% monthly and has an 80% downside barrier. The note is an unusual combination of one of the last safe-haven assets with a structure usually reserved for more risky plays. The underlying trust has attracted huge assets in the wake of the financial crisis, with physical gold holdings increasing to a record 1069 tonnes yesterday.

HSBC and JP Morgan also broadened exposure, both offering bullish trades on the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here