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Invesco PowerShares plans to launch a national print and television advertising campaign during the first quarter of 2009 that will focus on funds it thinks will lead the economy out of recession. "We believe there may be very specific sectors or industries that lead us out of the economic hole we're in and people will be looking for very specific exposures in the market to try to take advantage of opportunities," said Bruce Bond, ceo. Bond said the ads would highlight offerings that could include technology, natural resources, infrastructure and clean energy--all areas that should benefit from the incoming administration of Barack Obama.

Secondary bond markets are hopelessly illiquid. Dealers refuse to make markets to investors. But a new breed of agency broker now offers the chance to match buyers and sellers.

Drip, drip, drip. The Russian authorities’ decision to keep allowing the value of the rouble to fall against a US dollar-euro basket through a series of mini-devaluations shows no signs of stopping.

NYSE Euronext's new online screener for ETFs and ETNs on U.S. and European markets is gaining traction among issuers because of its simplified fund access and easier ETF monitoring. Issuers expect the platform to help them attract investors to their offerings.

Agency brokers offer new hope for bond market liquidity

Eurohypo is planning to expand its property derivatives business and to that end has hired Christophe Cuny in its London office. Cuny joins from ABN Amro, where he was the director of property derivatives structuring and distribution. One of Cuny’s mandates is to develop Eurohypo’s business so that it can offer asset-specific derivatives to clients and prospects by the end of 2009.

Claymore is to launch the first airline-focused ETF. The fund, which will be named Claymore/NYSE Arca Airline ETF, is expected to be introduced in January.

The Madoff scandal crowns a year of serial disasters. Neither regulation not the hedge fund industry will ever be the same again. Obama is the focus of much hope.

--Sarika Gangar

Agency brokers offer new hope for bond market liquidity

The local government of Italy’s Veneto region is considering using local pension funds’ resources to support regional infrastructure projects, IPE Real Estate reports.

There is no doubt that managers of funds of hedge funds and other professional managers of client money lost in this case should hang their heads.