Goldman Has No Taste for Spanish Debt, Prefers Italian

May 10, 2012 2:57 PM EDT
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Bloomberg is reporting that Goldman Sachs rebalanced its exposure to European bonds by reducing its holdings of Spanish debt, while simultaneously adding to its holdings of Italian sovereign debt.

Goldman's Spanish government bonds shifted to a negative $446 million in March from a positive $151 million in December, according to a quarterly regulatory filing. For Italian sovereign debt, the exposure surged to $2.51 billion in March from $210 million in December.

Traders can get exposure to the Italian bond market by buying DB Italian Treasury Bond Futures (NYSE: ITLY), which holds Italian government issued debt securities.

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