JPM Treasury client survey longs and shorts dropped 2ppts each with neutrals rising by 4ppts but Net longs remains at highest since June 2016 at positive 22%. (via BBG) All clients (June 20 vs June 12) -Long: 31 vs 33 -Neutral: 60 vs 56 -Short: 9 vs 11 -Net longs: 22 vs 22