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Hedge Funds’ Biggest Short in Bonds Faces Make-or-Break Moment

(Bloomberg) Hedge funds and other large speculators are more convinced than ever that the 2018 bond-market rout will resume in the days ahead. The group, known for trading on momentum, boosted short bets in 10-year Treasury futures to a record 939,351 contracts, according to Commodity Futures Trading Commission data through Feb. 6. That means the violent market moves on Feb. 5, when the Dow Jones Industrial Average suffered an unprecedented drop and 10-year yields fell almost 14 basis points, weren’t enough to dissuade wagers that rates are headed higher. The next gut-check comes Wednesday, with the latest read on consumer prices.

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