Global Macro Strategy_ December Index Extensions
Dezan Shira & Associates·2024-12-26 03:07
M Update Source: Bloomberg, Morgan Stanley Research estimates based on price and duration from December 23, 2024 Germany should have the largest extension this month (0.069y) compared to other countries, close to its average December extension of 0.072y. The higher extension is mainly caused by BKO 3.1% Dec-2025 (market value €19.2 billion, weight 1.3%) falling out of the index. 1-5y index will extend by 0.047y. Exhibit 7: December euro extensions by sovereign Morgan Stanley Research 3 United States UK UKT ...