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押注收益率达到5%的知名美债空头选择见好就收

A well-known short seller betting on a 5% return on US Treasuries has decided to take profits.

Global Market Report. ·  Jan 14 23:49

The long-term bond yields in the USA have risen sharply, to the extent that a well-known short seller believes it's time to close some positions.

Mark Dowding, Chief Investment Officer of RBC BlueBay Asset Management, stated that after a stronger-than-expected employment report pushed the 30-year bond yield above 5% for the first time since November 2023, he closed his short positions on long-term US Bonds last week. In addition, he also reduced his bets that the 30-year Bonds would underperform the 2-year Bonds (i.e., a steepening of the yield curve).

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"The yields have risen enough already," Dowding said.

Dowding, who manages 130 billion dollars in assets at RBC BlueBay, has been bearish on US Bonds since September because he believes strong economic performance and ongoing fiscal deficits will push the 30-year yields to 5%.

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Dowding claims that US Bonds have now reached short-term equilibrium, and there may be more interesting trades elsewhere.

One of his bets is that the Bank of Japan will raise interest rates, thereby pushing up domestic bond yields and the yen.

The translation is provided by third-party software.


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