Barclays PLC - iPath US Treasury Flattener ETN (FLAT) ETF Bio
The investment objective of the iPath US Treasury Flattener ETN is to provide investors with inverse exposure to the Barclays US Treasury 2Y/10Y Yield Curve Index. The Barclays US Treasury 2Y/10Y Yield Curve Index employs a strategy that seeks to capture returns that are potentially available from a "steepening” or "flattening”, as applicable, of the U.S. Treasury yield curve through a notional rolling investment in U.S. Treasury note futures contracts. The level of the Index is designed to increase in response to a "steepening" of the yield curve and to decrease in response to a "flattening” of the yield curve. To accomplish this objective, the performance of the Index tracks the returns of a notional investment in a weighted "long” position in relation to 2-year Treasury futures contracts and a weighted "short” position in relation to 10-year Treasury futures contracts, as traded on the Chicago Board of Trade.