by Hedge funds are betting this yr’s stellar begin for Treasuries is simply too good to final, quietly increase the largest bearish guess on bond futures on document.
An combination measure of net-short non-commercial positions throughout all Treasuries maturities has hit 2.4 million contracts, in accordance to the most recent information from the Commodity Futures Trading Commission as of Jan. 24. The positions cowl a mess of funding methods from outright bets to yield-curve wagers to relative trades to hedges, however the total path clashes with the narrative {that a} peak in price hikes is close to and a US recession will push buyers again into bonds.
