JPMorgan’s Michele More Positive on Bonds on Fed, Reserve Data

Treasuries may have hit the bottom for now amid signs of robust foreign demand and expectations for the Federal Reserve to support US government debt when needed, according to JPMorgan Asset Management.

“I feel pretty good that we’re putting in a low in price and a high in yield here,” Bob Michele, the firm’s global head of fixed income, said in a joint interview on Bloomberg Television. “In our conversations with overseas investors, they’re not being shaken out of Treasuries.”

Michele’s comments came after Treasuries suffered their biggest slump since 2001 last week, as President Donald Trump’s sweeping ...