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iPath GEMS Asia-8 ETN (AYT)

- NYSEARCA
  • Oct. 25, 2013, 4:24 AM
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  • Aug. 22, 2013, 5:22 AM
    • Emerging-market currencies have continued to suffer losses following the release of the latest FOMC minutes yesterday, which provided little clarity about when the Fed might start tapering its QE program but left the market expecting that it will be next month.
    • Ten-year Treasury yields are +2 bps at 2.916%. The recent spike in U.S. debt yields has caused borrowing costs to rise globally, which, along with the rising dollar, has not been healthy for emerging markets with large current account deficits, such as India.
    • USD-INR is +0.5% at 65.045 Indian rupees, with the currency hitting a new low of 65.55 earlier.
    • USD-TRY +0.4% at 1.9861 Turkish lira, with the currency hitting a new low of 1.9886 earlier.
    • USD-IPR +2.1% at 11,050 Indonesian rupiah.
    • USD-MYR +0.6% at 3.3102 Malaysian ringgit.
    • USD-THB +0.4% at $32.036 Thai Baht.
    • ETFs: CEW, AYT, JEM, PGD, ICN, INR
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AYT Description
The investment seeks to replicate, net of expenses, the Barclays Global Emerging Markets Strategy Asia 8 index. The index provides exposure to local currencies in specified Asian markets through short-term, liquid and diversified instruments. It is intended to replicate a diversified, multi-national money markets strategy in the eight Asian market currencies, the Indonesian rupiah, the Indian rupee, the Philippine peso, the South Korean won, the Thai baht, the Malaysian ringgit, the Taiwanese dollar and the Chinese yuan, that the index comprises, by reflecting the total return of U.S. dollar investments in the index constituent currencies.
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