MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50%

MNI: BANK OF KOREA KEEPS POLICY RATE AT 3.50%: PRESS

Japan May Machine Orders -3.2% M/M

MNI JAPAN MAY CORE MACHINE ORDERS -3.2% M/M; APRIL -2.9%

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

J.P.Morgan Survey Points To Increased European Peripheral Exposure

BONDS
HomepageBond Market NewsBulletMarketsFixed Income Bullets

J.P.Morgan’s latest European bond investor client survey reveals that “European real money investors in EGBs maintained their long duration exposure (moving from +0.15 to +0.14 years). This level is above the average observed since the beginning of 2022 (+0.03).”

  • “Single-currency European real money investors in EGBs also maintained their long duration exposure (at +0.39 years). This level remains above the average observed since early 2020 (+0.04 years).”
  • “Investors increased their overweight exposure in the European periphery vs. the last survey (from 12% to 19% net long). This level is above the average observed since the beginning of 2021 (15% net long).”
  • “European multi-currency investors modestly increased their duration exposure in USD (from +0.01 to +0.03 years).”
  • “Single-currency investors in GBP increased their long duration exposure (from +0.29 to +0.33 years). This level is above the average observed since the beginning of 2023 (+0.28 years).”
  • Note that all duration deviations are relative to the relevant benchmark and are given in years.
160 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

J.P.Morgan’s latest European bond investor client survey reveals that “European real money investors in EGBs maintained their long duration exposure (moving from +0.15 to +0.14 years). This level is above the average observed since the beginning of 2022 (+0.03).”

  • “Single-currency European real money investors in EGBs also maintained their long duration exposure (at +0.39 years). This level remains above the average observed since early 2020 (+0.04 years).”
  • “Investors increased their overweight exposure in the European periphery vs. the last survey (from 12% to 19% net long). This level is above the average observed since the beginning of 2021 (15% net long).”
  • “European multi-currency investors modestly increased their duration exposure in USD (from +0.01 to +0.03 years).”
  • “Single-currency investors in GBP increased their long duration exposure (from +0.29 to +0.33 years). This level is above the average observed since the beginning of 2023 (+0.28 years).”
  • Note that all duration deviations are relative to the relevant benchmark and are given in years.