JPMorgan exits US Treasurys to hedge default risk
JPMorgan Chase announced Thursday that it has gotten out of soon-to-mature U.S. Treasurys ahead of a possible default by the government.
"As of Oct. 9, 2013, the funds did not own any securities issued by the U.S. Treasury that mature or have scheduled coupon payments between Oct. 16, 2013, and Nov. 6, 2013," the company said in a statement.
Although clearly hedging its bets, JPMorgan also said it "continues to believe the that the probability of a U.S. government default is low."
(Read more: How 'preppers' are gearing up for a US default)
JPMorgan's announcement follows Fidelity Investments' Wednesday that it holds no U.S. debt coming due around the time the nation could hit its borrowing limit.