Ackman covers bond short after banking on trade
Hedge fund manager Bill Ackman said on X, formerly known as Twitter, that his Pershing Square hedge fund covered its bond short after banking on the trade over the past several months as yields surged on persistent inflation.Bond prices fall as yields rise, so the trade was a big winner for Ackman's firm, although precise details of how much his firm made on the trade are not known.
"There is too much risk in the world to remain short bonds at current long-term rates," Ackman said today after announcing they are covering the bond short.In August, Ackman said he was expecting inflation rates to stay persistently around 3% and thought 30-year Treasury yields could hit 5.5% “soon."We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other.
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