Opening Cross: Taking a Break

As we reach the middle of summer, some people's minds turn to taking a break - not just a vacation from the rigors of everyday life in and around the financial markets, but also from commoditized asset classes into new investments that offer both liquidity and opportunity.

Flavor of the month is exchange-traded funds, which have been growing apace in issuance and trading volumes. According to investment manager BlackRock, as of the end of July, the global ETF industry comprised a total of 2,282

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