Sun, Apr 26, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge funds cash in on the yen, one of the trades of the decade

Thursday, February 14, 2013

amb
Shinzo Abe
Benedicte Gravrand, Opalesque Geneva:

When Japan’s new Prime Minister Shinzo Abe came into office again (after a stint in 2006-7), he announced his plan to weaken the currency and boost the country’s economy.

Mr Abe told a news conference in Tokyo in December: "With the strength of my entire cabinet, I will implement bold monetary policy, flexible fiscal policy and a growth strategy that encourages private investment, and with these three policy pillars, achieve results."

This was a call the markets heard.

The latest Bank of America Merrill Lynch Hedge Fund Monitor reportedly said that hedge funds are still busy shorting the yen, the Japanese currency.

Hedge funds cash in

Indeed, according to several media reports today in yesterday, some of the biggest U.S. hedge-fund investors have made billions betting against the yen.

"It’s a bit of a no-brainer," Glenn Uniacke, head of options at the forex specialist Moneycorp told Opalesque. "When Abe came in, he did the markets a massive favour by telegraphing what he was going to do. From the currency point of view, it’s one of the trades of the decade. Looking back, I don’t think it was a massive surprise."

In the last three months, George Soros, who mad......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. U.S. does not want hedge funds to invest in offshore re-insurers for tax purposes[more]

    Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use off

  2. Ruling: Hedge funds suing Argentina can have access to bond offering details[more]

    Komfie Manalo, Opalesque Asia: U.S. District Judge Thomas Griesa in Manhattan ruled yesterday that hedge funds are entitled to details of a recent bond offering by Buenos Aires, reports

  3. Fund managers express concern of overvaluation in both equity and bond markets[more]

    Komfie Manalo, Opalesque Asia: According to the BofA Merrill Lynch Fund Manager Survey, investors see growing overvaluations in both

  4. Update: Wall Street has strong feelings about Jon Corzine trying to make a comeback[more]

    From Businessinsider.com.au: Former New Jersey Governor Jon Corzine is thinking about starting his own hedge fund, according to the Wall Street Journal, and because of the way his last firm imploded, Wall Street has strong feelings about that. “Truth is the larger seeders would never give him money

  5. Opalesque Exclusive: Cybersecurity and hedge funds - A manager’s experience, Part Four[more]

    Benedicte Gravrand, Opalesque Geneva: Ruane, Cunniff and Goldfarb, Inc. used to have their own IT infrastructure. Todd Ruoff, Executive Vice President in charge of trading, operations and technology, was responsible for its maintenance. Then he started looking at outsourced providers a couple of

 

banner