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/RESEARCH: The latest JPM Treasury Client...>

US TSYS
US TSYS: /RESEARCH: The latest JPM Treasury Client Survey, longs and shorts both
gave up 2% while neutrals gained 4%. JPM notes the all clients survey "is
roughly in line with its 4-week average", while the active clients survey "is
now 3%-pts longer than its 4-week average".
All Clients
* Date     Long   Neutral  Short   Changes
* 4/15     21      56       23      28
* 4/08     23      52       25      19
* 4/01     15      59       26      36
* Actives
* Date     Long   Neutral  Short   Changes
* 4/15     20      60       20      40
* 4/08     20      60       20      30
* 4/01     10      70       20      50

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