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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.

Adam Jeffery | CNBC

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.

That was followed by Pimco founder Bill Gross saying he would follow the opposite strategy. "(We're) buying what Fidelity is selling," he said.

(Read more: Fidelity dumps debt; Gross keeps buying)

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