"The cynic in me wonders whether UBS has created this product solely so that institutional clients can bet against agency MBS by shorting this ETN at a time when MBS prices have never been higher.
The average investor likely has no idea how mortgage REITs operate and what circumstances could cause a material fall in their share prices. As an investor who deals in the MBS markets regularly, I am downright frightened that such a product is being created at a time when so many red flags are apparent."
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