postgresql database backup fails with new format

Looks like there's a permissions bug in the postgresql backup when using the new backup format:

Dumping PostgresSQL database ipython ..
.. dump failed!

pg_dump: [custom archiver] could not open archive file "/home/ipython/.backup/ipython.scipy.org_postgres_ipython": Permission denied

It works fine when using the old backup format (I guess it goes to /tmp where permissions are different?).

Status: 
Closed (fixed)