US Wrap: Flows stabilise as Deutsche Bank broadens US equity exposure
A day earlier Citigroup Funding had combined the US market's most popular structure and underlying of the day with a reverse convertible offering exposure to the performance of the S&P 500. Reverse convertible structures are equity, not index-linked, but this problem is managed by linking the note (one of Citi's Elks, or equity-linked securities) to one of the exchange-traded funds which tracks the S&P 500's performance: the SPDR Trust Series 1.
The first shoots of diversification away from US
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