(Bloomberg) The “weakest hands” in the world’s biggest bond market — speculators who can switch positions on a dime — appear to have a much firmer grip than they’re given credit for. Hedge funds have shown no signs of backing down from their unprecedented bets against U.S. Treasuries, even after yields plateaued and fell into a range the past three weeks. Sometimes referred to as momentum chasers or “fast money,” their unwavering commitment to short wagers indicates the pressure toward higher yields may not go away soon.
That Big Hedge-Fund Short Squeeze in Treasuries Is No Sure Thing
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