JPM Treasury Client Survey (W/e Feb 17th): All client net longs falls to 7 from 9, Active clients unchanged

• Long: 22 (prev. 24)
• Neutral: 63 (prev. 61)
• Short: 15 (prev. 15)
• Net longs: 7 (prev. 9)

• Long: 44 (prev. 44)
• Neutral: 45 (prev. 45)
• Short: 11 (prev. 11)
• Net longs: 33 (prev. 33)

The decline in net longs among JPMorgan's Treasury clients, from 9 to 7, indicates a diminishing bullish sentiment towards Treasuries over the past week. While total longs also decreased, the stability in active clients suggests some underlying resilience; however, this shift may imply cautious positioning ahead of potential market-moving events or economic data releases that could impact interest rates and bond yields.