JPMorgan maintains a bearish outlook on U.S. Treasury duration, but the strength has weakened compared to previous weeks.

JPMorgan strategists stated in a report that, considering the upcoming US Nonfarm Payrolls report and technical factors related to long positions, JPMorgan maintains a bearish outlook on the duration of US Treasuries, but the bearish stance is not as strong as in previous weeks. The strategists pointed out that the short and medium ends of the US Treasury yield curve are now realigned with fundamental drivers, providing some support for recent movements in yields.