Wall Street’s biggest bond dealers are amassing the most Treasuries since March last year in a sign they’re confident the Federal Reserve’s tightening cycle will proceed in an orderly fashion.
JPMorgan Chase & Co., Citigroup Inc. and the 20 other companies that trade with the Fed increased their holdings for a fourth week to a net $69 billion, in data reported Thursday. Traders see an almost 60 percent chance of the first rate increase since 2006 coming in September after a Labor Department report Friday showed U.S. employers added more than 200,000 jobs in July and wages increased.
