Investors most bearish in U.S. bonds since April - survey
Sept 10 (Reuters) - Bond investors grew more bearish on U.S. longer-dated government debt to a level not seen in over five months as optimism about U.S.-China trade tensions and stimulus to bolster the global economy reduced bond demand, a J.P. Morgan survey released on Tuesday showed.
Benchmark 10-year Treasury yields US10YT=RR rose to a one-month high at 1.675% on Tuesday, rising from a three-year low of 1.429% reached last week.
In late August, the yields on U.S. 30-year Treasury bonds US30YT=RR hit a record low of 1.905%, according to Refinitiv data.
The share of investors who said on Monday they were "short," or holding fewer longer-dated Treasuries than their portfolio benchmarks, exceeded the share who said they were "long," or holding more longer-term government debt issues than their benchmarks, by 4 percentage points.
This was the highest level since April 1, according to J.P. Morgan.
A week ago, investors were net short by 2 percentage points.
GRAPHIC-Investors positions in longer-dated US Treasurieshttps://tmsnrt.rs/2V9OjHR
GRAPHIC-Investors positions in longer-dated US Treasuries interactivehttps://tmsnrt.rs/2VeUaMr
GRAPHIC-U.S. yield curve: Invert, steepen, repeat
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(Reporting by Richard Leong; editing by Jonathan Oatis)
((richard.leong@thomsonreuters.com; +1 646 223 6313; Reuters Messaging: richard.leong.thomsonreuters.com@thomsonreuters.net; Twitter @RichardLeong2))
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