From the May 2011 issue of Research Magazine • Subscribe!

Sovereign Debt ETNs Debut

Deutsche Bank and Invesco PowerShares Capital Management have launched six ETNs linked to foreign sovereign bond futures. These will be the first ETNs to provide investors with leveraged or unleveraged exposure to the U.S. dollar value of the returns of German sovereign bond futures, Italian sovereign bond futures and Japanese sovereign bond futures. These ETNs expand upon Deutsche Bank’s product line-up that already includes leveraged ETNs linked to US Ultra T-Bond Futures.
The new ETNs trade under the following ticker symbols:

  • PowerShares DB German Bund Futures ETN (BUNL)
  • PowerShares DB 3x German Bund Futures ETN (BUNT)
  • PowerShares DB Italian Treasury Bond Futures ETN (ITLY)
  • PowerShares DB 3x Italian Treasury Bond Futures ETN (ITLT)
  • PowerShares DB Japanese Govt Bond Futures ETN (JGBL)
  • PowerShares DB 3x Japanese Govt Bond Futures ETN (JGBT)

The returns of each ETN are obtained by combining the month-over-month performance or three times the month-over-month performance of the DB USD Bund Futures Index, the DB USD BTP Futures Index or the DB USD JGB Futures Index, as applicable, with the monthly returns of the DB 3-Month T-Bill Index, less an investor fee.

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