July 10, 2018 / 3:28 PM / a year ago

U.S. Treasuries investors more neutral in latest week: survey

NEW YORK (Reuters) - U.S. Treasury investors turned more neutral in the latest week following June payrolls data and minutes on last month’s Federal Reserve policy meeting, a J.P. Morgan survey released on Tuesday showed.

The share of investors who said on Monday they are neutral, or holding longer-dated Treasuries equal to their portfolio benchmarks, rose to 53 percent from 47 percent the prior week, according to the bank’s latest Treasury client survey.

Early on Tuesday, the yield on benchmark 10-year Treasury notes US10YT=RR was 2.864 percent, marginally higher than late on Monday.

Last Friday, the Labor Department reported that domestic employers hired 213,000 workers in June, more than analysts had forecast, while average hourly earnings grew by 0.2 percent last month, slower than May’s 0.3 percent pace.

Meanwhile, Fed officials discussed whether recession lurked around the corner and showed concern that global trade tensions could hit an economy that by most measures looked strong, according to minutes of the Fed’s policy meeting on June 12-13 released on Thursday.

Reporting by Richard Leong; editing by Jonathan Oatis

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