Sunday, June 10, 2012, 9:22 PM
A peek under the hood of the Spanish ETF (EWP) shows banks Santander (STD) and BBVA making up about 33% of the holdings, with Telefonica (TEF) roughly another 18%. Electric utility Iberdrola (IBDRY.PK) and oil giant Repsol (REPYY.PK) account for just under 5% each of the fund's assets.
Comment![Global & FX]
Wednesday, April 18, 2012, 7:20 AM
Madrid leads the way lower in Europe, -3.1%. Given that, what would you think is happening to Spanish bond yields? Correlation fans will be disappointed, as the 10-year is off 8 bps to 5.80%. The utility sector is the big loser, led by Iberdola (IBDRY.PK), -7.3% after a struggling construction firm is forced to unload a big stake in the company.
7 Comments[Global & FX]