US rates weekly review : Barclays

Barclays notes:

We maintain our recommendation to be long 10y US Treasuries, as forward yields are somewhat elevated relative to our estimates of neutral rates. In our view, term premia should actually be negative. 

Further positioning seems to be leaning short duration. At next week's FOMC meeting, we expect the Fed to maintain its base case outlook of hiking twice this year, with the risk of a dovish message, as the "dots" may again drift lower.