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Komfie Manalo, Opalesque Asia: Hedge funds posted mixed performance through mid-November with
equity-focused strategies posting gains with the HFRX Market Directional Index gaining +1.40% (+7.53%
YTD) and HFRX Global Hedge Fund Index up +0.26% for the period
(+1.01% YTD).
"Gobal financial markets experienced a short-lived dislocation as Donald
Trump won the U.S. Presidential election, surprising many observers,
U.S. equities gained through mid-November and rates increased sharply in
anticipation of infrastructure spending stimulus efforts and less
onerous government regulation. U.S. equities surged through mid-month,
led by small cap, banks and biotechnology sectors; Asian and European
equities also gained led by China, Japan, Sweden and Switzerland," Hedge
Fund Research said in its mid-November report.
It added that U.S. yields spiked on expectations for stronger U.S.
economic growth under
Trump, while European and Asian yields also rose with both German and
Japanese yields now in positive territory. The U.S. dollar gained
against most currencies through mid-month on the US election, with sharp
increases against the Mexican peso and Brazilian peal, also posting
gains against the Japanese yen and euro. Commodities posted declines led
by natural gas, oil, gold, platinum and silver, which were only
partially offset by a sharp gain in copper.
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