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Triple-Inverse Nat Gas ETN Goes Berserk, Explodes By $10,000 In Minutes

Courtesy of ZeroHedge View original post here.

It's a quietish day in Nattie futures – down just over 2% but coming back a little now…

The NatGas term structure is 'normal'…

But you wouldn't know that if you are "invested" in the VelocityShares Daily 3x Inverse Natural Gas ETN…

For some context, this is a $12,000-plus surge in the price… as one market watcher exclaimed "something's f**king broken."

As Bloomberg's ETF analyst, James Seyffart, notes, Credit Suisse may need to consider shuttering the (DGAZF), after pricing broke down and the exchange-traded note closed with a 645% premium to net asset value yesterday, and it traded as much as 3,900% above NAV because market makers lack the ability to create new shares to meet demand.

Can we get a better market!!??


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