Morgan Stanley has also brought to market two of the five best-sellers during the month.

Exchange-traded funds (ETFs) have gained ground as underlying assets, accounting for two out of the five best-sellers during the period analysed. The US market collected US$11.0 billion notional from approximately 3,900 structured notes registered with the US Securities and Exchange Commission (SEC) in April, a 7.3% decline from March or down 9.4% year-over-year (YoY), SRP data shows. The S&P 500 went down 0.76% in April, bringing its year-to-date performance to -5.31%.  “The S