Hedge Funds Cut Bullish Commodity Bets Most in Eight Months
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Hedge funds cut their bullish bets on commodities by the most for any week since June as Japan’s nuclear crisis threatened the global economic recovery.
In the week ended March 15, an index of managed-money net-long positions, or wagers on rising prices, in 18 commodities tumbled 14 percent from a week earlier to 1.27 million U.S. futures and options contracts, government data compiled by Bloomberg show. That’s the biggest drop since the week ended June 29, and the smallest net-long holdings since early August.