|Day's Range||30.08 - 30.27|
|52 Week Range||24.81 - 30.86|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.62%|
Goldman Sachs still likes emerging market foreign exchange as an asset class, but recommends closing its top trade. Strategists Kamakshya Trivedi, Caesar Maasry and Ian Tomb suggest taking profits in an equally-weighted basket that is long the Brazilian real (BRL), Russian ruble (RUB), Indian rupee (INR) and South African rand (ZAR) versus a short position in an equally-weighted basket of South Korean won (KRW) and Singapore dollar (SGD). In particular, we argued that a basket of high-carry currencies with good fundamentals – 'good carry' – which included BRL, RUB, INR and ZAR had been punished indiscriminately despite improving current account balances, falling inflation, supportive valuations and the prospect of better growth.
Investors are bailing on the Global X MSCI Greece exchange-traded fund (GREK), down 3.3% Wednesday, following another dead-end Eurozone finance minister meeting that ended without the release of bailout money. Between July 3 and July 20, Athens must cough up EUR 6.46 billion ($7.23 billion) to meet debt obligations, but the IMF said Monday that it wants more realistic assumptions about Athens' budget performance after 2018, when the current bailout ends, writes Wolfango Piccoli, an analyst at Teneo Intelligence. The Vanguard FTSE Emerging Markets ETF (VWO) is up 0.2%, while the iShares MSCI Europe Financials ETF (EUFN) and the SPDR S&P Emerging Europe ETF (GUR) are each down 0.4%.
The SPDR® S&P Emerging Europe ETF listed in the table below, announced today that the Fund received notice from a tax authority in Poland related to the recovery of taxes withheld on dividends received by the Fund during the period 2010.