A Hedge Fund Pioneer Bets on Higher Rates, Recovery In Stocks
- Picton sees a rebound boosting risk assets, including copper
- ‘I don’t believe that the bond market’s going to get it right’
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A top hedge fund manager in Canada says the coronavirus sell-off is a temporary setback that will soon give way to an economic rebound, sending stocks and interest rates higher.
“While there will certainly be an economic hit from the virus, when you go back through these ‘pandemic’ periods of time, there’s really, without exception, a fairly significant recovery that takes place in markets and economies,” David Picton, founder of hedge fund Picton Mahoney Asset Management, said during an interview at Bloomberg’s office in Toronto.