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21

Hedge Funds Burned by Fed Set to Unwind Bearish Rate Bets

By Tony Seruga

Rates futures speculators were wrong-footed ahead of Fed
FOMC actions leave traders expecting lower yields for longer

Hedge funds and other speculators were ready to profit last week if the Federal Reserve lifted interest rates. Their bets proved wrong-footed, leaving traders poised to reverse course, according to TD Securities.

The net aggregate short position in all interest-rate contracts traded through CME Group Inc. was the largest since February as of Sept. 15. The wagers would’ve proven prescient if yields had spiked following the Fed’s Sept. 17 announcement…

Hedge Funds Burned by Fed Set to Unwind Bearish Rate Bets

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