{US} UST Aggregate Index: +0.06y

• The UST duration extension for January is below both its 12-month +0.07y, and its three January average of +0.07y.

{GB} UKT Aggregate Index: +0.18y

• The UKT index should see an extension of +0.18y, below its January average +0.21y, and above its 12-month average +0.07y. There is one new issue included, a Mar30 for £4.25bn, and ~£39.7bn dropping from the index. Around £9.8bn in coupons were paid in January.

{EU} EGB Aggregate Index: +0.10y

• The EGB Index duration extension estimated this month +0.08y, in-line with both its January average of +0.08y over last three years, and its 12-month average +0.08y.

EGB Aggregate Index Components:

{IT} •On a sovereign basis, Italy’s duration change is +0.13y, above its rolling 12-month average +0.06y, and its past three January’s average +0.07y. A total of €33bn dropped from the index, with €13bn Aug35 and €5bn Apr46 syndications were added. Italy paid €2.1bn in coupons.

{GE} •Germany’s duration increase on a sovereign basis is +0.01y, below its January average +0.03y, and its 12-month average +0.07y. Benchmark additions of an Apr30 Bobl and Feb35 Bund totalled €10bn, and coupon payments were €4bn.

{FR} •France has an increase of +0.06y on a sovereign basis, below its 12-month average +0.07y and January average +0.07y. France syndicated a New OAT May42 for €10bn, and it has the largest weight increase of +0.16%, and largest weighted duration increase +0.025y.

{BE} •Belgium’s duration change is +0.01y, above with its January average +0.00y, and below its 12-month average +0.06y. Belgium syndicated a New 10y OLO for €7bn, and its weight in the index is increased by +0.04%.

{AS} •Austria is projected to increase -0.00y, below its January average +0.04y, and below its 12-month average +0.08y. Coupon payments were €0.2bn in January.

{NE} •The Netherlands was the largest change on a sovereign basis +0.40y, above its avg. for Jan +0.19y, and its 12-month avg. +0.11y. Dropped members totalled €11.6bn. Coupons paid were ~€4bn.

{PO} •Portugal has a change on a sovereign basis +0.05y, below its January average +0.14y, and its 12-month average +0.10y. Portugal syndicated a new Jun35 for €4bn this month.