Hedge Funds Find Safety in a Once Hated Currency

0
Hedge Funds Find Safety in a Once Hated Currency

In a new report, MacNeil Curry, CFA, CMT of BAML notes  hedge fund buying of the Euro against the dollar. The currency of the troubled continent appears to be viewed as a safe haven once again. However, because this report is based on data from before the massive selloff, it could prove to be premature to call the Euro a favored currency. According to Curry, Large speculators aggressively bought euro to a net long of $2.7bn from a net short of -$1.0bn notional last week. Positioning moved to a net long for the first time since February 2013. Hedge funds reduced their net long US $ Index positions to $1.2bn from $3.5bn notional. Positioning moved out of a crowded long. The US dollar has resumed its 2yr bull trend following the rally.

Hedge-funds-buy-euro-usd

Short strategies bought market exposure last week, while Macro hedge funds slightly reduced their net long positions to the S&P 500 (INDEXSP:.INX) and NASDAQ. Long Short exposure remains below benchmark. Both Market Neutral and Long Short strategies leaned further toward disinflationary expectations.

Qualivian Investment Partners July 2022 Performance Update

stocks performance 1651757664Qualivian Investment Partners performance update for the month ended July 31, 2022. Q2 2022 hedge fund letters, conferences and more Dear Friends of the Fund, Please find our July 2022 performance report below for your review. Qualivian reached its four year track record in December 2021.  We are actively weighing investment proposals. Starting in November Read More