July 3, 2018 / 3:20 PM / 14 days ago

U.S. Treasuries investors more bearish in latest week -survey

NEW YORK, July 3 (Reuters) - U.S. Treasury investors turned mildly more bearish in the latest week after last week’s bond market gains tied to worries about escalating trade friction between the United States and its major trade partners, a J.P. Morgan survey released on Tuesday showed.

The share of investors who said on Monday they are short, or holding fewer longer-dated Treasuries than their portfolio benchmarks, rose to 30 percent from 28 percent the previous week, according to the bank’s latest Treasury client survey.

The share of investors who said they were long, or holding more longer-dated Treasuries than their benchmarks, slipped to 23 percent from 25 percent.

This resulted in an increase in net shorts in longer-dated Treasuries to 7 percentage points from 3 percentage points last week.

Early on Tuesday, the yield on benchmark 10-year Treasury notes was 2.844 percent, down more than 2 basis points from late on Monday. (Reporting by Richard Leong; Editing by Dan Grebler)

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