Bloomberg News

U.S. Treasury Investor Optimism Falls This Week

March 13, 2012

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

The net percentage of investors holding Treasury notes decreased to -2 percent this week from 12 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.)

=============================================================================
           March 12  March 5  Feb. 27  Feb. 21  Feb. 13   Feb. 6   4-week
               2012     2012     2012     2012     2012     2012     Avg.
=============================================================================
Index          1.03     0.86     0.85     0.98     0.85     1.00     0.93
               -All Clients Who Expect Treasury Prices to:
Increase        21%      25%      26%      17%      21%      15%      22%
Not Change      57%      62%      60%      68%      72%      70%      62%
Decrease        23%      13%      13%      15%       7%      15%      16%
Net Long        -2%      12%      13%       2%      14%       0%       6%
Changes         15%      11%      21%      21%      21%      19%      17%
=============================================================================
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: Kristy Scheuble in Washington at kmckeaney@bloomberg.net

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


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