Jonathan Levin, Columnist

Bill Ackman’s Treasury Short May Be Right for Wrong Reasons

The activist hedge fund investor is piling on during a rough week or so for long-dated US government debt, but his analysis doesn’t add up.

August 3, 2023 at 6:34 PM UTC

By Jonathan Levin

Jonathan Levin is a columnist focused on US markets and economics. Previously, he worked as a Bloomberg journalist in the US, Brazil and Mexico. He is a CFA charterholder.

Bill Ackman's options play is more bluster than bold bet.
Photographer: Patrick T. Fallon/Bloomberg

Provide news feedback or report an error

Site feedback:

Take our Survey

This article is for subscribers only.

Long-dated government bonds are going through a rough patch. Just in the past week or so:

The upshot is that yields on 30-year Treasuries jumped about 29 basis points since Monday and were poised to test their 12-year highs set last October.