JPM piles into Treasuries with record $72bn AFS surge
Portfolio reshaped with shift to medium-term maturities as Q2 glut boosts holdings to all-time high
JP Morgan’s available for sale (AFS) US Treasuries surged by $71.8 billion in the second quarter – the largest quarterly increase in at least a decade – elevating the book to a record $302.8 billion.
The bank also saw held-for-trading USTs grow by 6.6% to $209.9 billion, the highest since at least 2017. Held-to-maturity (HTM) Treasuries remained largely unchanged at $108.2 billion, compared with
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