Deutsche ETN yields top returns
The German dealer issued the Elements Australian dollar (ADE) ETN on February 20, targeting investors looking to participate in an appreciating Australian dollar. By July 17, the bank sold $1.64 million worth of the notes, which track the Deutsche Bank AUD Overnight Index, one-for-one, less a 0.40% fee.
The notes benefited from a 4.75% US dollar devaluation versus the Australian currency in the second quarter. But despite analyst expectations for a weakening AUD as commodities prices level out
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