Economics
Bond Traders Place Biggest Short in Treasuries in Over a Decade
`Very Hard to Find Value' in Fixed Income, Investec Says
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After the worst losses for Treasuries in 10 months, investors are ramping up bets that the world’s largest bond market will decline further.
A JPMorgan Chase & Co. survey for the week through Oct. 2 found that clients as a whole soured on Treasuries, with 44 percent holding a short position relative to their benchmark. That’s the most since 2006 and up from 30 percent in the prior period. Among those who actively place bets, such as speculative accounts, a record 70 percent were short.