March: CTAs capsize in bond market reversals

April 3, 2023

Man Group: Bond market reversals caused “considerable pain”
Related: Fixed-income bets drive CTA gains in February
This article is for AFI Pro and Executive members

After a stellar 2022, trend-followers were undone in March by the short fixed-income positions which had served them so well in the first half of last year.

The SG Trend Index was down 7.6% for the month to 30 March, putting it down 7.2% for the year. CTAs more broadly posted a smaller loss, down 6.4% and 5.2% for the year.

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