US Wrap: Market snaps into action to kickstart week

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

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