Van Eck is planning to launch two new ETFs based on the European bond market, Index Universe reports. The proposed funds, the Market Vectors Sovereign Bond ETF and the Market Vectors European High Yield Bond ETF, will be listed on the New York Stock Exchange. The sovereign bond ETF would offer exposure to bonds denominated in local currency issued by 45 governments, excluding Russia. The high yield ETF will track the performance of the Market Vectors European High Yield Bond Index, comprising local-currency-denominated junk bonds from issuers in 45 countries, adds Seeking Alpha.
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