As debt securities yields provided one of the only shelters in the bear market storm, fixed income trading by fund managers surged 39% last year. According to a Greenwich Associates survey of 827 fund managers in the U.S., they traded $27.128 billion worth of bonds last year, up significantly from $21.964 billion the year prior, Reuters reports.
Greenwich Associates survey of 3,868 fund managers around the world showed the biggest increase in volume in the U.S., with a rise of 39%. European trading rose 23%, and trading in Asia outside of Japan surged 30%. However, trading of fixed-income securities in Japan fell 6.9%.
The survey, based on interviews between last March and August, showed equal interest in all types of bonds, including government bonds, investment-grade corporate bonds, mortgage-backed securities, emerging market debt and high-yield bonds. Greenwich Associates also estimates that worldwide, $25.32 trillion worth of bonds changed hands in 2002.
The staff of Mutual Fund Market News ("MFMN") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MFMN, and have not prepared, sponsored, endorsed, or approved these summaries.