PowerShares 3x Dollar ETNs Arrive
PowerShares rolled out the first 3x leveraged currency exchange-traded products earlier this week (5/24/11). PowerShares DB 3x Long US Dollar Index Futures ETN (UUPT) and PowerShares DB 3x Short US Dollar Index Futures ETN (UDNT) will track leveraged multiples of the Deutsche Bank Long U.S. Dollar Index Futures Index using a monthly reset of the leverage. UUPT and UDNT are ETNs (exchange-traded notes), which are long-term unsecured debt obligations that carry the credit risk of Deutsche Bank, the note issuer. They do not actually invest in the components of the underlying index, which consists of futures contracts whose underlying asset … Read more