The document discusses the results of a portfolio managers survey by Stone McCarthy Research Associates, highlighting a reduction in overexposure to credit and changes in allocations to corporate bonds and Treasuries. The survey shows a tactical allocation of 34.7% in corporate bonds, an 11% deviation from the Barclays US Aggregate Index, the smallest in two years. It also notes changes in Treasury allocations, with a sharp drop in February not yet captured by the excess returns model.
doj/DataSet10/EFTA01385928.pdf
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