NEW YORK, April 2 (Reuters) - Bond investors turned bearish on longer-dated U.S. government debt following the dramatic bond market rally in the latter days of the first quarter due to fears about a recession, J.P. Morgan survey showed on Tuesday.
The margin of investors who said they were “short,” or hold fewer Treasuries than their portfolio benchmarks, over those who said they were “long,” or hold more Treasuries than their benchmarks, was 11 percent. This compared with a net long of 5 percentage point the week before, according to the survey.
This was the highest level of net shorts since Jan. 7. (Reporting by Richard Leong Editing by Chizu Nomiyama)