Thursday, April 17, 2008

Four New Agriculture ETN's

As I've been stating there are so many ETFs (and ETNs which are Exchange Traded Notes) I simply cannot keep up. But since these have to do with agriculture, this series of four notes caught my eye. They are basically Ultralong, long, Ultrashort, and short vehicles tracking the "Deutsche Bank Optimum Yield Agriculture Index". Now I have no idea what is in that index and my first attempts to google it did not yield anything but if its a basket of soft commodities I'd probably be interested in the Ultralong stake either as a replacement or complement to Powershares DB Agriculture ETF (DBA) which is based on the " Deutsche Bank Liquid Commodity Index – Optimum Yield Agriculture Excess Return™" - for all I know it's the same thing - but the latter is a fancy way to say corn, wheat, soybeans, and sugar.

Or for traders... when Barron's puts out its next "Commodities is Dead" issue you could quickly rush into the Ultrashort version...


NYSE Euronext (NYX) today announced that four new Exchange Traded Notes (ETNs) listed and began trading on NYSE Arca.

These ETNs are designed to track the Short and Leveraged Performance of the Deutsche Bank Optimum Yield Agriculture TM Index. The following Deutsche Bank ETNs listed and traded on NYSE Arca under the following ticker symbols:

DB Agriculture Double Short ETN (NYSE Arca: AGA)
DB Agriculture Double Long ETN (NYSE Arca:DAG)
DB Agriculture Short ETN (NYSE Arca: ADZ)
DB Agriculture Long ETN (NYSE Arca: AGF)

Long Powershares DB Agriculture Fund in fund; no personal position

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