HALISTER1: Managers Slightly More Defensive, SMR Says

Managers Slightly More Defensive, SMR Says

(Bloomberg) -- Participants in SMRA Portfolio Manager Survey in week ended April 12 appear to “favor a rise in rates,” although such expectations have “failed to come to fruition pretty consistently in recent years,” and kept participants “very cautious in that outlook.”
  • Actual/Target Duration (arithmetic): 99%, lowest since Feb. 16
  • Actual/Target Duration (weighted): 99.4%
  • Bull/Bear Index (arithmetic): 4.8
  • Bull/Bear Index (weighted): 4.4
  • Agency allocations: 7.7%, unchanged for 24th consecutive week matching lowest on record
  • MBS allocations: 23.9%, unchanged at highest since July 21
  • Treasury allocations: 24.1%, lowest since April 2012
  • Corporate allocations: 35.8%
  • Spread product allocations: 70.6%
  • Spread expectations: 5.21, unchanged at highest since Nov. 17
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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