BONDS: J.P.Morgan Client Survey Reveals Increased EGB Exposure
Jun-12 10:19
The latest J.P.Morgan European client survey reveals that “single-currency European real money investors modestly increased their long duration exposure in EGBs since the last survey (from +0.33 to +0.36 years). This level remains broadly in line with the average observed since early ‘23 (+0.33 years)”.
- “Investors modestly increased their overweight exposure in the Eurozone periphery since the last survey (from 20% to 23% net long) This level remains above the average observed since the beginning of ‘23 (8% net long)”.
- “European multi-currency investors maintained their USD exposure (+0.05 years)”.
- “Single-currency investors in GBP marginally decreased their long duration exposure (from +0.35 to +0.33 years). This level remains broadly in line with the average observed since the beginning of ‘25 (+0.36 years)”.
- Note that all the deviations provided above are against the respective benchmarks.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EQUITIES: Estoxx rolling call
May-13 10:12
SX5E (19th Dec) 5200c vs (18/12/26) 6000c, sold the front at 214.5 in 10k.
US TSY OPTIONS: TYN5 109.00/108.00 Put Spread Blocked, Adding To Downside Flow
May-13 10:08
Latest block trades lodged at 10:32:08 London/05:32:08 NY:
- TYN5 109.00/108.00 put spread 20K lots blocked at 0-14, looks like a buyer.
- Follows on from 21K of the FVN5 107.00/106.25 put spread being blocked through the London morning.
FINLAND T-BILL AUCTION RESULTS: 6/9-Month RFTBs
May-13 10:08
| Type | 6-month RFTB | 9-month RFTB |
| Maturity | Nov 13, 2025 | Feb 13, 2026 |
| Amount | E885mln | E1.116bln |
| Target | E2.0bln | Shared |
| Previous | E845mln | E1.15bln |
| Avg yield | 2.03% | 2.01% |
| Previous | 2.13% | 2.10% |
| Bid-to-cover | 1.99x | 1.77x |
| Previous | 1.42x | 1.09x |
| Previous date | Apr 08, 2025 | Apr 08, 2025 |
Source: Bloomberg
