Fidelity & J.P. Morgan Chase Just Dumped ALL Their Short-Term Treasury Bonds, Fearing Default – 14 October 2013

InvestmentWatchThe US Government shutdown continues and we are only five days from national bankruptcy when the debt celing is reached. Fund managers at Fidelity and JP Morgan have taken the prudent view and have dumped all their short-term US treasuries just in case of the first default in the history of the union.

Not wishing to panic markets the bank said: ‘Although JPMorgan Investment Management continues to believe that the probability of a US government default is low, it has taken certain precautionary measures with respect to the money markets.’

http://www.arabianmoney.net/us-stocks/2013/10/12/jp-morgan-dumps-all-short-term-us-treasuries-as-default-approaches-next-week-with-no-deal-on-the-debt-ceiling/

www.investmentwatchblog.com / link to original article

Comments are closed.