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Morgan Stanley Flag Differences Among EGB Extensions

MONTH-END EXTENSIONS

For the broad euro government bond index Morgan Stanley estimate an "extension of 0.054y, slightly higher than an average November (0.038y) but lower than an average monthly extension (0.078y)." They "see the largest extension of 0.136y in the 1-5y sector and, countrywise, expect Austria to extend the most, at 0.433y; followed by Italy, 0.129y and Belgium, 0.09y. Notable extensions in France, Austria, Italy, Spain and Belgium are due to bonds falling out and/or changing indices."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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