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Balyasny, BlueCrest, ExodusPoint Ground Traders Over Losses

  • Firms said to curtail trader bets after reversal in markets
  • Funds moved after positions said to hit maximum loss levels
The U.S. Treasury building in Washington, D.C.

The U.S. Treasury building in Washington, D.C.

Photographer: Andrew Harrer/Bloomberg

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The hedge fund traders watched as a nightmare scenario played out in the world’s bond markets. 

From Australia to the U.K. to the U.S., government bond yields abruptly moved against them last week amid growing speculation that central banks will accelerate plans for raising interest rates in the face of persistent inflation. The losses piled up -- and for a few became so big that the firms halted some trading to contain the damage.