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J.P.Morgan Wary Of Seasonals, Remain Neutral On Duration

US TSYS

J.P.Morgan note that “although valuations remain expensive, we are cognizant that seasonals could have a strong influence over the near term: long-term yields tend to drift lower in the second half of August, this has occurred in 8 of the last 10 years. Thus, despite the upcoming supply process and rich valuations, we remain neutral on duration at current levels.”

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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