Bloomberg News

U.S. Treasury Investor Optimism Increases This Week

February 28, 2012

U.S. Treasury note investors were more optimistic this week, according to a JPMorgan weekly poll of clients.

The net percentage of investors holding Treasury notes increased to 13 percent this week from 2 percent the previous week. The net figure is the difference between the percentage of investors long on Treasury notes (expecting prices to increase), and the percentage short Treasury notes (expecting prices to decrease.)

=============================================================================
           Feb. 27  Feb. 21  Feb. 13   Feb. 6  Jan. 30  Jan. 23   4-week
              2012     2012     2012     2012     2012     2012     Avg.
=============================================================================
Index         0.85     0.98     0.85     1.00     0.85     0.93     0.92
               -All Clients Who Expect Treasury Prices to:
Increase       26%      17%      21%      15%      23%      21%      20%
Not Change     60%      68%      72%      70%      68%      64%      68%
Decrease       13%      15%       7%      15%       9%      15%      13%
Net Long       13%       2%      14%       0%      15%       6%       7%
Changes        21%      21%      21%      19%      15%      21%      21%
=============================================================================
NOTE: Survey index equals shorts plus neutrals divided by longs plus neutrals.
In the week ending Oct. 24 JP Morgan changed the list of clients surveyed 
and the historical data was recalibrated.

SOURCE: JPMorgan

To contact the reporter on this story: Chris Middleton in Washington at cmiddleton2@bloomberg.net

To contact the editor responsible for this story: Marco Babic at mbabic@bloomberg.net


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