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WATCH: We Covered Our Bond Short, Says Ackman
Source: Bloomberg
Good morning. Bill Ackman and Bill Gross ditch their bond shorts, Bitcoin tops $35,000, there’s a Russia-China alumina deal and Chevron is taking a stake in a Guyana project. Here’s what people are talking about.
Some of the market’s most prominent bond bears are saying the historic rout in US Treasuries has gone too far. Billionaire investor Bill Ackman wrote in a social media post Monday that he unwound his bet against US government bonds amid rising global risks, while Bill Gross, co-founder of Pacific Investment Management Co., wrote that he’s buying short-dated interest-rate futures in anticipation of a recession by year-end. Meanwhile, though Treasuries stabilized on Tuesday, wild swings in the “world’s safest asset” are once again acting as a driver for volatility across global markets.