Antifragile Assets – 10-15Y Government Bonds, HFR Hedge Funds Index and Gold, Total Returns Should investors favor Chinese government bonds? Image: Gavekal, Macrobond
Rolling 6-Month Excess Return of Hedge Fund VIPs vs. S&P 500 The most popular hedge fund long positions have largely underperformed the broader market over the past 12 months. Image: Goldman Sachs Global Investment Research
Hedge Fund Net Leverage Aggregate hedge fund net leverage remains high compared to the average level. Image: Goldman Sachs Global Investment Research
U.S. Dollar Exposure of Currency Hedge Funds Hedge funds remain bullish on the U.S. dollar. Image: J.P. Morgan
Hedge Fund Gross and Net Leverage Hedge fund leverage is decreasing but remains high. Image: Goldman Sachs Global Investment Research
Hedge Funds – Net Buys Since late March 2021, hedge funds continue to hit the sell button. Image: BofA Securities
Equities – Hedge Fund Client Four Week Average Net Flows BofA’s hedge fund clients are selling equities at the fastest rate since 2008. Image: BofA Securities
Global Macro Hedge Funds’ Net Exposure to U.S. 10-Year Treasury Bond In terms of positioning, global macro hedge funds are currently long U.S. Treasuries. Image: Nomura
Hedge Funds and Systematic Investor Positioning Hedge funds and systematic investor positioning is low in a long-term historical context. Is any market pullback a buying opportunity? Image: J.P. Morgan Quantitative and Deratives Strategy
Hedge Fund Leverage Hedge fund net leverage is close to record levels. It is also high compared to the average level of the last ten years. Image: Morgan Stanley