September 17, 2019 / 3:20 PM / 2 months ago

Investors' bullishness on U.S. bonds highest since late July -survey

Sept 17 (Reuters) - Bond investors are now the most bullish they've been on U.S. longer-dated government debt since late July following the biggest weekly sell-off in the Treasuries market in over three years, a J.P. Morgan survey released on Tuesday showed.

Last week, benchmark 10-year Treasury yields reached a six-week peak at 1.908% prompted by optimism over a possible U.S.-China trade deal. They rose nearly 35 basis points on the week, marking their steepest weekly increase since June 2013, according to Refinitiv data.

The share of investors who said on Monday they were "long," or holding more longer-dated Treasuries than their portfolio benchmarks, exceeded the share who said they were "short," or holding fewer longer-term government debt issues than their benchmarks, by 10 percentage points.

This was the highest level of net longs since July 29, according to J.P. Morgan.

A week ago, investors were net short by 4 percentage points.

Reporting by Richard Leong Editing by Paul Simao

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