Hedge Funds Were Most Bullish on Bonds Since 2004 Before Brexit

(Bloomberg) Futures speculators were the most bullish since 2004 on Treasury bond futures in the lead-up to this week’s U.K. referendum on European Union membership.Hedge funds and other traders boosted net-long positions on bond futures to 103,471 contracts as of June 21, two days before the British vote, from about 77,277 a week earlier, according to Commodity Futures Trading Commission data released Friday.

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