Wed, Mar 29, 2017
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. Opalesque Exclusive: FS Investments launches energy fund[more]

    Bailey McCann, Opalesque New York: $19 billion Philadelphia-based FS Investments has launched a new interval fund which will invest in energy. The FS Energy Total Return Fund is the firm's first closed-end interval fund and will invest opportunistically in energy companies and assets. FS

  2. Hedge fund liquidations in 2016 surpass 2009 levels, new launches decline[more]

    Benedicte Gravrand, Opalesque Geneva: Even as the hedge fund industry's total assets exceeded the $3tln milestone last year, hedge fund liquidations increased. So much so that 2016 had the highest number of liquidations since 2008, claims the latest HFR Market Microstructure Report, re

  3. Hedge funds find no joy in macro as returns lag Trump rally[more]

    From Gulfnews.com: In 2017, macro hedge funds were expected to shine. So far? Not so much. It's been a far from impressive first two months for funds that trade around macroeconomic events. Discretionary funds rose just 0.3 per cent through February, according to Hedge Fund Research Inc., while the

  4. Strategies - Billionaire investor Marc Lasry shares how he's playing markets right now, Classic models are failing FX hedge funds desperate for return[more]

    Billionaire investor Marc Lasry shares how he's playing markets right now From CNBC.com: Buy on the prospect of deregulation. Sell on the enactment of deregulation. That's the strategy that billionaire investor Marc Lasry is implementing, according to an interview with CNBC in Las Vegas

  5. Opalesque Exclusive: Aberdeen makes the case for the lower mid-market[more]

    Bailey McCann, Opalesque New York: Aberdeen Asset Management has released a new paper focused on lower mid-market private equity. According to the paper, this segment of the private equity market is gaining popularity with private equity investors that are looking for multiple expansion and less