RATES: Active Clients Net Short For First Time Since August: JPMBy James HollowayOct.2 ( Bloomberg) - - JPMorgan’s Treasury Client Survey for the week ended Oct. 1 vs week ended Sept 24.
- All
Clients
- Long
17 vs 25 - Neutrals
68 vs 66 - Shorts
15 vs 9 - Net
longs 2 vs 16 - Active
Clients
- Long
15 vs 39 - Neutral
62 vs 46 - Short
23 vs 15 - Net
short - 8 - “The
active clients survey is net short for the first time since August 20”
A former sell-side investment bank US Treasury flow trader, now a private prop trader.
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Tuesday, October 2, 2012
JPM survey - will the big bond selloff be delayed?
The JPM survey indicates that traders are already net short...which means that the market should see one more short covering push up (perhaps making a new local high) before the auction concession selloff can take place. This all depends of course on just how accurate the JPM survey is to begin with. Do you really think the big levered traders respond to these things truthfully? I probably wouldn't.
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