European Duration Survey, 6 May 2010
Click here for the full Note and disclosures.
•Both multi-currency and single-currency investors increased their longs signficantly vs. benchmark, particularly international Euro area and US investors.
•Euro area domestic investors reduced their shorts by 0.05 years vs. benchmark. They still hold short duration exposure at -0.10 years vs. benchmark.
•Multicurrency investors in the Euro area turned long for the first time since Feb10; they are now at +0.07 years vs. benchmark.
•Multicurrency investors in US Treasuries increased their duration exposure by 0.08 years and are now broadly neutral vs. benchmark. US domestic investors however reduced longs slightly and are now neutral- to
marginally short.
•Multi-currency investors’ duration exposure to JGBs also increased by 0.05 years; investors are now roughly neutral.
•Domestic UK investors’ exposure is unchanged since our last update, at -0.17 years vs. benchmark. This is in line with the 6M average.
ENDS.