JPMorgan Team Ditches Bullish Treasuries View on US Data
- Barry team ‘can no longer justify’ tactical long-duration view
- Change comes as US economic data surpass expectations
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JPMorgan Chase & Co. has ditched a bullish tactical view on Treasuries after a series of US economic data releases came in stronger than expected.
The bank’s fixed income strategists are unwinding their long position in five-year Treasuries as “we can no longer justify our tactical long duration view,” a team including Jay Barry wrote in a note to clients.