U.S. Short-Dated Treasury Yields Hold Near Recent Highs

JPMorgan strategists said they are taking a wait-and-see approach before choosing absolute duration in U.S. short-dated Treasuries. According to Jin10, the strategists said short-end yields remain near recent highs, the Federal Reserve is in its quiet period, and labor market data are still weeks away, so they prefer to remain patient and do not recommend establishing duration positions at current levels. U.S. 2-year Treasury yields briefly fell 0.8 basis point to 4.252% intraday, near the multi-month high of 4.298% reached on July 14.