Brevan Howard Had One of Its Best Trading Days on ECB Bet
- Macro firm positioned for surprise ECB monetary policy shift
- Main hedge fund up about 4% YTD, star trader Golchin makes 8%
Aron Landy
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Brevan Howard Asset Management is enjoying a banner February after its traders benefited from the European Central Bank’s surprise signal that it could start raising rates as soon as this year.
The firm had one of its best-ever days of trading on Feb. 4 as complex option bets on short-term euro rates paid off, people with knowledge of the matter said. One of the notable winners was Brevan Howard’s star trader Fash Golchin who rebounded after his record annual loss last year, according to the people and an investor document seen by Bloomberg.