Komfie Manalo, Opalesque Asia: Trend reversals in August have led managed futures traders to lose 1.52% last month according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 0.62% year to date.
"Fed chairman Yellen’s unexpectedly hawkish comments at the Jackson Hole symposium precipitated trend reversals in global bond and currency markets," said Sol Waksman, founder and president of BarclayHedge.
All eight of Barclay’s CTA indices lost ground in August. The Diversified Traders Index was down 2.43%, systematic traders lost 1.94%, financial/metals traders were down 1.03%, and currency traders slipped 0.39%.
"Commodity markets had a small loss by the end of the month, with the CRB Index down 0.34 percent," said Waksman.
"A four percent rally in the first half of the month was erased by declines in the second half, and the cross-currents proved difficult to navigate profitably," he added.
Year to date, the Financial/Metals Traders Index is up 2.39%, currency traders have gained 1.21%, systematic traders are up 0.87%, and the Diversified Traders Index has gained 0.49%.
Two CTA indices have negative returns for the year. Agricultural traders are down 1.85% through August, and the Discretionary Traders Index has lost 1.65%.
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