Greek Shock In June Helps Jolt Macro Hedge Fund Recovery

(Reuters) Hedge funds that make big bets on currencies, interest rates and commodities were hit hard in June as a worsening Greek debt crisis, concerns about China growth and U.S. rate rise uncertainty unsettled markets.The losses mark a reversal in fortunes for the global macro and trend-following trading strategies, both of which had finally appeared to be bouncing back after years of lackluster returns. Such funds had gained about 3 percent through May this year, their best start in six years.

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