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Long U.S. debt positions rose last week-JPM survey
NEW YORK, July 3 |
NEW YORK, July 3 (Reuters) - More investors reported they were long U.S. Treasuries and fewer had a neutral stance in the latest week, a survey showed on Tuesday.
The share of investors who said they were long U.S. government debt, or holding more Treasuries than their portfolio benchmarks, rose to 15 percent on Monday from 11 percent in the previous week, J.P. Morgan Securities said in a weekly Treasury client survey.
But the share of investors who were short on Monday, or owned fewer Treasuries than their benchmarks, also rose -- 17 percent from 15 percent, J.P. Morgan said.
Meanwhile, the share of investors who remained neutral on the outlook for Treasuries fell. Still, a majority of clients - 68 percent compared with 74 percent a week earlier - said they held Treasuries equal to their portfolio benchmarks.
Among active clients and including market makers and hedge funds, which are seen to take on speculative bets in Treasuries, the share of those who said they were long Treasuries rose to 15 percent from zero in the prior week.
The share of active clients who owned fewer Treasuries than their benchmarks held steady at 15 percent, while the percentage of active traders with neutral weightings in Treasuries fell to 69 percent from 85 the week previous.
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