Hedge fund Alphadyne Asset Management is one of the biggest casualties from a short squeeze in the global bond market, with its $12 billion macro trading strategy snared in a series of bad bets on rising interest rates.
The investment firm is staring down losses of about $1.5 billion after its hedge funds plunged through July, according to people familiar with the matter. Its flagship Alphadyne International Fund lost about 10% this year. It also manages a leveraged version with about the same amount of assets.
