Tue, Feb 9, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Despite fed denials, fiscal policy may be nearing an inflection point

Wednesday, July 03, 2013

Bailey McCann, Opalesque New York:

Letters out today from two funds indicate that fiscal policy, at least in the US may be at an inflection point despite recent denials from the Federal Reserve. The newest GAM Insight letter, highlights the rapid June sell off that followed the first indications of tapering from the Fed. Those comments have since been denied from other Fed leaders, as a misinterpretation, but as the GAM letter notes - June was the first negative performance month for the year for aggregate hedge funds. This viewpoint was echoed by quant fund Chahine Capital, in their strategy outlook. As Opalesque reported earlier today, the HFRX Global Hedge Fund index finished June 1.4% lower, bringing year-to-date performance to 3.1%.

"We are about to enter an unknown, post-QE world. The market has digested only the start of the QE tailing-off process, but the mini-crash that hit bond prices has already ended a year-long slide in yields. Bonds with maturities of 10 years or more have lost more value than equities on a 12-month view. Mr Bernanke has effectively reminded the world that financial markets are risky, something that many investors had forgotten in the midst of this year's stock market rally," writes Jacques Chahine, Chairman, C......................

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. Investing - Avenue Capital's Marc Lasry: We like European bank loans, Comment: A bunch of hedge fund managers are chasing the 'dream of crushing a major structural problem'[more]

    Avenue Capital's Marc Lasry: We like European bank loans From CNBC.com: European banks are under immense pressure, but at least one prominent hedge fund has found what it thinks is a good opportunity in the wreckage. Marc Lasry, co-founder and chief executive of hedge fund Avenue Capital

  2. Credit Suisse cherry picks hedge fund ideas[more]

    From FT.com: Credit Suisse Asset Management plans to cherry pick profitable concepts from hedge funds with the launch in Europe of a “best ideas” strategy. The investment arm of the Swiss bank said the strategy will separate it from other funds blighted by “overcrowding problems”. It comes at a time

  3. Investing - Hedge funds bet on risks in U.S. blue-chip debt, Hedge funds bets against bank credit risk paying off, Tiger Global still likes Internet names, gets pointers from Jeter[more]

    Hedge funds bet on risks in U.S. blue-chip debt From WSJ.com: Hedge funds are betting the next bond sector to crack will be the $4.5 trillion market for the safest U.S. corporate debt. New York’s Perry Capital has placed a $1 billion wager against investment-grade bonds issued by 10 comp

  4. Short Selling - Hedge fund manager Kyle Bass is shorting real estate—again, Top US hedge fund has €80m short position in Paddy Power Betfair[more]

    Hedge fund manager Kyle Bass is shorting real estate—again From Fortune.com: He also predicted the mortgage crisis in 2008. Hedge fund manager Kyle Bass, who runs Dallas-based Hayman Capital, tanked the stock of a little-known real estate financier Friday by revealing that he is shorting

  5. HFRU Hedge Fund Composite Index down -2.58% in January[more]

    Global financial markets posted sharp losses in January led by declines in Oil and global equities, though steep intra-month losses in both were narrowed by strong gains in final trading days of the month. Global equities posted steep declines for the month led by Biotechnology, Energy, Financial, E