Monday, July 15, 2024

CTAs decline in June on bond and metals trends

  • SG Trend Index makes 8.6% in H1 despite June decline

Trend-followers and other CTAs declined in June as bond prices recovered, going against widespread short positioning, but remain in healthy positive territory for the year.

Reversals in metals markets also contributed to losses, with the average large trend-follower down 2.8% in June, according to Societe Generale. Profitable long equity positions were cancelled out by the bonds and metals trends, said Winton in a market note.

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