BofAML's sentiment survey, released Monday,....>

EGBS: BofAML's sentiment survey, released Monday, noted that "core duration

shorts were increased slightly, at odds with the improvement in sentiment, but

again the main move was in periphery longs which are approaching post-crisis

highs."

- The survey also noted that "rate cuts from the ECB seem all but a given for

investors, with the question being more the how and the 'chaser'. A significant

portion of respondents are expecting QE in September, either on its own or in

combination with a rate cut. QE expectations keep rising for the remainder of

the year, with more than 60% of respondents expecting QE before year-end. We

remain more sceptical, given the ECB has yet to form consensus around the hurdle

rate for further accommodation."

- BofAML also noted that "investors look to factors outside of monetary policy

to lift breakeven inflation rates, with almost one fifth who feel that nothing

can increase inflation. Confidence that easy monetary policy is here to stay

continues to drive a search for yield."