Jp Morgan Client Survey On Us Treasuries

Discussion in 'Trading' started by THE-BEAKER, Jun 6, 2007.

  1. just wanted to point out to anyone trading us treasury futures.

    last week their client survey gave the following results:


    long - 30
    neutral - 58
    short - 12

    this was the highest number of longs since may 03.

    us ten year was trading at 106.215.

    now here is the latest report:


    long - 4.
    neutral - 65.
    short - 7.

    this is now the highest number of longs since APRIL 2002.

    on the active date survey for the 4th JUNE 2007 there were no shorts positions.

    the ten year is now trading 105.235.

    call me old fashioned but when a market is positioned this way and keeps going lower with fewer shorts this suggests to me that the there is massive potential downside here for the us treasuries.

    especially when goldman comes out and says it has changed its view on us interest rates and got it completely wrong.