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J.P.Morgan Reaffirm Preferences Ahead Of This Week's Major Risk Events

US TSYS

Ahead of this week’s major risk events J.P.Morgan “continue to hold longs in 5-year Treasuries and 5s/30s steepeners as the markets are pricing in a later start and less dovish path for the Fed than our own forecasts, but we recognize that these trades will only work if the January data strength do not prove to be the start of a new trend.”

  • They also “hold 2s/5s flatteners to hedge the negative carry in these positions, and because the 5-year sector appears cheap along the curve in our frameworks.”
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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