JPM Treasury Client Survey (w/e Jan 26th): Active clients survey shows most net longs since July 7th, 2025

The JPM Treasury Client Survey indicates a notable increase in net long positions among active clients, now at the highest level since July 2025.

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JPM Treasury Client Survey (w/e Jan 26th): Active clients survey shows most net longs since July 7th, 2025

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All Clients: (Jan 26th vs. Jan 20th)

  • Long: 24 (vs. 24).
  • Neutral: 57 (vs. 57).
  • Short: 19 (prev. 19).
  • Net longs: 5 (prev. 5).

Active Clients:

  • Long: 56 (prev. 44).
  • Neutral: 33 (prev. 45).
  • Short: 11 (prev. 11).
  • Net longs: 45 (prev. 33).
Context

This shift suggests growing confidence in the Treasury market, potentially influencing bond yields and overall fixed income sentiment as traders position themselves for future rate changes. Such a move could reflect expectations around economic growth or upcoming policy adjustments.

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