Everywhere You Look, Rates Traders Are Piling Into Rate-Cut Bets
- Option structures for an economic hard landing are in demand
- JPMorgan Treasury client group has record net-long position
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Positioning for an economic hard landing and aggressive Federal Reserve easing next year is spreading across the US interest-rate markets.
In the cash bond market, JPMorgan Chase & Co.’s Treasury client survey, conducted weekly since 1991, found that the most active investors in the market are as bullish as they’ve ever been.