Ackman, founder of Pershing Square Capital Management, said “there is too much risk…to remain short bonds at current long-term rates.”
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Billionaire hedge fund manager Bill Ackman shorted 30-year Treasury bonds in August — a move that netted his fund a profit of about $200 million, people familiar with the matter told theon Monday that “there is too much risk in the world to remain short bonds at current long-term rates,” hinting at his exit from the short position.
Ackman’s tweets triggered a recovery in Treasury prices, after an earlier sell-off had pushed yields to 16-year highs, FT reported., suggesting that he’s more worried the US economy is headed for a recession than it will be plagued with high interest rates and inflation.at $3.
To keep long-term Treasury yields higher for longer periods of time, the Federal Reserve would need to keep interest rates higher for longer, which is unlikely if the US economy heads closer to a recession.
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