Barclays estimates that its duration index extends out 0.13 years, versus the long run average of 0.09 years, according to Rupert, which means asset managers need to buy Treasuries to hit that index.
The better than expected results followed similarly upbeat news from rivals such as HSBC and Lloyds earlier in the week, as British banks benefited from government job support schemes that have put back the hit from the pandemic.