New Mortgage-Backed Securities ETF Introduced
Specifically, it's the iShares Lehman MBS (mortgage-backed securities) Fixed-Rate Bond Fund (MBB), based on “the performance of investment grade fixed-rate mortgage-backed pass-through securities of Ginnie Mae, Freddie Mac and Fannie Mae.”
As with all toxic waste scenarios, however, prospective shorts need to consider the substantial risk of Superfund interventions.
Barclays launches mortgage-backed securities ETF
by John Spence
MarketWatch Mar. 16 2007
UPDATE: Reports of the arrival of the iShares Lehman MBS (mortgage-backed securities) Fixed-Rate Bond Fund were, if not premature, exaggerated. On its first day, the ETF opened around 10:30am with 100 shares filled at $100.85, and closed with a second trade around 11:45 am, again of 100 shares at...$100.86. Looks like someone made a buck, before transaction costs.
Just as exaggerated and premature: that drivel from Lee Kranefuss about how “For the first time investors are able to observe intra-day pricing of a basket of mortgage securities, and have the flexibility to implement their market views blah blah blah.” I’d recommend watching the grass grow around the For Sale sign on your neighbor’s lawn as being at least as informative, and certainly more exciting.
Related Articles
|
Hedge Fund Jobs
Job Seekers: Search jobs by category, get job alerts by email or live feed, apply online See full list of jobs »
Employers: See all recruitment options, get applications online or by email Post a job »
Trading Center
- Free E-Newsletters
- About Seeking Alpha
- About Us
- Contact Us
- What's New
- Readers Feedback
- Advertise With Us
- Contributors
- Contribute an Article
- Feature Your Book
- Our Contributors
- Anonymous Contributions
- Dispute an Article?
- Legal
- Terms of Use
- Privacy
- Copyright
This article has 1 comment:
- a.uchrinscko
- 1 Comment
Mar 20 06:34 AM