State Street To Launch Seven New Bond ETFs
State Street Global Advisors, the ETF issuing arm of State Street (NYSE: STT), has field plans to introduce seven new bond ETFs.
The new ETFs are the following: The SPDR S&P Agency Bond ETF, the SPDR Barclays Capital Corporate Bond ETF, the SPDR Barclays Capital Corporate Industrial Bond ETF, the SPDR Barclays Capital Corporate Financial Bond ETF, the SPDR Barclays Capital Corporate Utilities Bond ETF, the SPDR Barclays Capital Zero Coupon Bond ETF and the SPDR Barclays Capital CMBS ETF.
State Street's new ETFs will track the following indexes: The S&P U.S. Agency Bond Index, the Barclays Capital U.S. Corporate Bond Index, the Barclays Capital U.S. Corporate Industrial Bond Index, the Barclays Capital U.S. Corporate Financial Bond Index, the Barclays Capital U.S. Corporate Utilities Bond Index, the Barclays Capital U.S. Treasury STRIPS Index and the Barclays Capital CMBS ERISA-Eligible Index.
Bond ETFs have flourished in the current favorable interest rate environment so it will be interesting to see how the market for new fixed income ETFs behaves if the Fed hints at possible rate tightening in Tuesday's FOMC minutes release.
