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BONDS: J.P.Morgan Survey Shows Reduced Overweight In Peripheral EGBs

BONDS
BulletMarketsFixed Income Bullets

J.P.Morgan’s latest European bond investor client survey reveals that “multi-currency European real money investors in EGBs maintained their long duration esposure (moving from +0.17 to +0.18 years). This level remains above the average observed since the beginning of ‘23 (+0.11 years).”

  • “Single-currency European real money investors in EGBs modestly increased their long duration exposure (from +0.25 to +0.28 years). This level is broadly in line with the average observed since early ‘21 (+0.30 years).”
  • “Investors reduced their overweight exposure in EGB peripherals (from 20% to 13% net long). This level remains above the average observed since the beginning of ‘23 (3% net long).”
  • “European multi-currency investors maintained their duration exposure in USD (moving from +0.15 to +0.17 years).”
  • “Single-currency investors in GBP increased their long duration exposure (from +0.41 to +0.45 years). This level remains well above the average observed since the beginning of ‘24 (+0.35 years).”
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J.P.Morgan’s latest European bond investor client survey reveals that “multi-currency European real money investors in EGBs maintained their long duration esposure (moving from +0.17 to +0.18 years). This level remains above the average observed since the beginning of ‘23 (+0.11 years).”

  • “Single-currency European real money investors in EGBs modestly increased their long duration exposure (from +0.25 to +0.28 years). This level is broadly in line with the average observed since early ‘21 (+0.30 years).”
  • “Investors reduced their overweight exposure in EGB peripherals (from 20% to 13% net long). This level remains above the average observed since the beginning of ‘23 (3% net long).”
  • “European multi-currency investors maintained their duration exposure in USD (moving from +0.15 to +0.17 years).”
  • “Single-currency investors in GBP increased their long duration exposure (from +0.41 to +0.45 years). This level remains well above the average observed since the beginning of ‘24 (+0.35 years).”