JPMorgan: U.S. Treasuries may have hit bottom

Odaily News JPMorgan Asset Management said that U.S. Treasuries may have bottomed out for now, amid signs of strong foreign demand and market expectations that the Federal Reserve will support U.S. government debt if necessary. "I feel good that we're investing in low prices and high yields here," said Bob Michel, the firm's global head of fixed income. "In our conversations with overseas investors, they are not scared away by U.S. Treasuries." Previously, U.S. Treasuries suffered their biggest drop since 2001 as Trump's tariffs and unpredictable policymaking weakened demand for long-term safe-haven assets. Michel cited Fed data showing that foreign central banks and reserve managers have recently increased their holdings of U.S. Treasuries. He also pointed to recent comments by Fed Collins that the Fed is "absolutely ready" to help stabilize financial markets if things get messy. (Jinshi)