BNP Paribas’s first fixed-income survey of 2004 shows that bond investors are more cautious on credit and less bearish on government bonds than they were in December. The report states there has been a tendency to move back towards a more neutral stance as the threat of imminent rate hikes has receded.
The results for euro corporate credit suggest that investors retain their appetite for credit, although they are no longer as aggressive as in 2003. Investors still favour telecoms, but their o
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