JP Morgan strategists say they are staying on the sidelines before taking
outright duration in the US short end, citing short-term yields near recent
highs, a Fed blackout period and key jobs data still weeks away; they continue
to advise patience and do not recommend establishing duration at current levels.
The two-year Treasury yield briefly fell 0.8bps intraday to 4.252%, near the
multi-month high of 4.298% hit on July 14.
