Banking, finance, and taxes

ETF Launch: Credit SPDR From State Street (ITR, STT)

State Street Corporation (NYSE: STT) is launching a new ETF to track the credit markets.  Its State Street Global Advisors (SSgA) investment management arm launched the SPDR Barclays Capital Intermediate Term Credit Bond ETF (NYSE: ITR).  This ETF will give…

By Jon C. Ogg
Published February 11, 2009, 10:14am ET · 1 min read

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State Street Corporation (NYSE: STT) is launching a new ETF to track the credit markets.  Its State Street Global Advisors (SSgA) investment management arm launched the SPDR Barclays Capital Intermediate Term Credit Bond ETF (NYSE: ITR).  This ETF will give access to investment grade credit bonds and was designed to track the price and yield performance of the Barclays Capital Intermediate Credit Index. The target index includes investment grade corporate and non-corporate credit bonds denominated in US Dollars.  These also have a maturity range of 1 year to 10 years.  As of December 31, 2008, the index included 2,512 issues, an average credit rating of “A” and an average maturity of 5.2 years; and its annual expense ratio is 0.15%.

Jon C. Ogg
February 11, 2009

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Jon C. Ogg

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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