US wrap: Financials are the name of the game
As issuances go, the latest in the US public market is a relatively standard affair featuring the usual players, but it leans towards financials as the preferred underlying, which has been a firm trend in the market this year.
Barclays Bank is the underlying for a Royal Bank of Canada three-month reverse convertible – the UK bank is not usually among the handful of financial sector names that appear as the basis for a product in the US market.
The volatility of the underlying suggests that it is
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