9 December 2015

Co-Authors

Alex Kemmsies

Associate    

Justin Schack

Managing Director    

Rosenblatt Securities Inc.    
New York +1 212 607 3100    

TRADING TALK
Rosenblatt's Monthly ETP Review: November

Notable ETP News

Bond ETFs Help Melt Illiquid Fixed-Income Markets
—Institutional Investor

When Leighton Shantz, director of fixed income for the Employees Retirement System of Texas (ERS), wanted to get out of a $1.4 billion position in investment-grade corporate bonds two years ago, he didn’t tell his traders to start calling Wall Street to sell individual securitie s. “Even in 2013 we were worried about Street liquidity,” says. Instead, Shantz used fixed-income exchange-traded funds, baskets of individual bonds, to reposition $26 billion ERS’s bond portfolio.

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