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Share of investors long on U.S. longer-dated bonds rises -JPMorgan
September 12, 2017 / 1:59 PM / 2 months ago

Share of investors long on U.S. longer-dated bonds rises -JPMorgan

    NEW YORK, Sept 12 (Reuters) - The share of investors who
said they were holding more longer-dated Treasuries than their
benchmarks rose from last week on concerns about hurricane
damages and tensions between North Korea and the United States,
JPMorgan Chase & Co's latest client survey showed on Tuesday.
    The share of investors who said on Monday they were "long"
on longer-dated Treasuries was 9 percent, up from 7 percent a
week earlier, JPMorgan said.
    Last Friday, U.S. benchmark 10-year Treasury yields fell to
10-month lows and came within striking distance of 2 percent.

    Benchmark yields have risen since Monday as investors pared
safe-haven bond holdings on signs that damages from Hurricane
Irma may not be as severe as once feared.
    At 9:46 a.m. (1346 GMT), the 10-year yield was
up 4 basis points at 2.165 percent ahead of a $20 billion
auction of 10-year supply. 
    JPMorgan surveyed clients including bond fund managers,
central banks and sovereign wealth funds, as well as market
makers and hedge funds.
    The chart below displays the latest survey results of
JPMorgan's Treasury clients:

  All clients     Long   Neutral  Shorts     Net
                                           Position
 Sept. 11          9       64       27       -18
 Sept. 5           7       66       27       -20
 Aug. 28           7       75       18       -11
 Aug. 21           7       70       23       -16
 Aug. 14           11      59       30       -19
 Aug. 7            18      57       25        -7
 July 31           18      59       23        -5
 Active clients                                
 Sept. 11          0       90       10       -10
 Sept. 5           0       80       20       -20
 Aug. 28           0       90       10       -10
 Aug. 21           0       90       10       -10
 Aug. 14           10      70       20       -10
 Aug. 7            20      60       20        0
 July 31           20      60       20        0
 * NOTE: Positive value denotes net long, negative value denotes
net short

    

 (Reporting by Richard Leong; Editing by Meredith Mazzilli)
  

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