Treasuries worry European managers

New Angles

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The US Treasury market is looking too risky for European fund managers. Concerns about Asian central banks’ intervention buying keeping yields low and the conviction that the Federal Reserve will raise interest rates sooner rather than later, have prompted European managers to reduce their exposure to Treasuries.

Many fear a repetition of last summer’s volatility, which saw yields on 10-year Treasuries rise from 3.1% in June to 4.5% in August and swap spreads inflate to 69 basis points over Trea

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