Commodities Etf Biography
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For the first time since a group of US copper consumers, a large copper trader, and Senator Carl Levin launched a fierce attack on the product in May, JPMorgan has responded. Unsurprisingly, the bank argues that the new copper ETF would have no untoward effects on the global economy; more surprisingly, it says that physical metal ETFs have no impact on prices at all.
Seriously?
JPMorgan “does not believe that [exchange-traded vehicles] have a significant impact on price,” it says in a submission to the Securities and Exchange Commission, adding that the bank believes physical metal ETFs “track rather than drive” the price of metals.
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/a782c1c6-f772-11e1-ba54-00144feabdc0.html#ixzz2EoXmM100
For the first time since a group of US copper consumers, a large copper trader, and Senator Carl Levin launched a fierce attack on the product in May, JPMorgan has responded. Unsurprisingly, the bank argues that the new copper ETF would have no untoward effects on the global economy; more surprisingly, it says that physical metal ETFs have no impact on prices at all.
Seriously?
JPMorgan “does not believe that [exchange-traded vehicles] have a significant impact on price,” it says in a submission to the Securities and Exchange Commission, adding that the bank believes physical metal ETFs “track rather than drive” the price of metals.
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