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REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON/NEW YORK, Nov 30 (Reuters) - After making hay when a summer bond rout propelled the U.S. dollar to 10-month highs, hedge funds are now pondering what lies ahead for the greenback. Five funds shared their views on the fate of the dollar. This does not represent recommendations or trading positions, which some hedge funds cannot reveal for regulatory reasons. He expects the U.S. economy to slow sharply which, alongside falling inflation, will likely hurt the dollar against some emerging market currencies. The Brazilian real, trading at 4.8908 per dollar , is up roughly 8% so far this year against the dollar.

Persons: Dado Ruvic, Jonathan Fader, Fader, Doug Greenig, Florin Court's, Greenig, Tara Hariharan, Hariharan, NWI, Carlos Calabresi, Michael Sager, Sager, Nell Mackenzie, Carolina Mandl, Dhara Ranasinghe, Kirsten Donovan Organizations: REUTERS, U.S, greenback, Swiss, Reuters, FLORIN, China Foreign Exchange Trade, Long, Garde, CIBC, Thomson Locations: U.S, American, Brazil, Colombia, Hungary, Poland, China, Asia, Brazilian, London, Carolina, New York

☆ NZ Funds says uranium bet returns over 300% profit
▼ + stars: | 2023-11-23 | by ( Nell Mackenzie | ) www.reuters.com time to read: +3 min

Uranium is a key input in the production of nuclear energy. NZ Funds said the rise in the uranium price in this time had boosted the returns of its existing options positions by as much as 362% so far. "The drive for an energy transition has increased positive sentiment towards nuclear energy. "NZ Funds have the in-house infrastructure and investment team, along with world-class expertise from our partners at Syzygy to support these types of investments," said Mark Brooks, senior portfolio manager at NZ Funds. Nuclear energy is responsible for 10% of the world's power generation, EIA website statistics show.

Persons: Syzygy, Goldman Sachs, William Callanan, Mark Brooks, Nell Mackenzie, Amanda Cooper, David Evans Organizations: U.S, Reuters, Wednesday, Funds, Technological, Senate, Fuel Security, Uranium, NZ Funds, U.S . Energy Information Administration, EIA, Thomson Locations: Russia, China, Japan, Ukraine, United States, U.S, Canada, Kazakhstan, Uzbekistan

LONDON, Nov 21 (Reuters) - The shares and bonds of CPI Property Group (O5G.DE) fell sharply on Tuesday after short-selling hedge fund Muddy Waters said it had bet against the credit of the Luxembourg-based commercial landlord. In a report, seen by Reuters, the fund said CPI Property Group's controlling shareholder, Czech billionaire Radovan Vitek, had misstated the value of the company. CPI Property Group's Frankfurt-listed shares were last down 2.8% on the day, while the price of its 2027 medium-term note fell 3.5 cents on the day to 70.259, data from Tradeweb showed. Muddy Waters did not specify against which bond it had taken a short position and the company has several outstanding notes listed. CPI Property Group owns properties in Germany, the Czech Republic, Poland and elsewhere in Central and Eastern Europe.

Persons: Muddy Waters, Radovan Vitek, Nell Mackenzie, Amanda Cooper, Jason Neely Organizations: CPI, Reuters, Group's, CPI Property Group, Thomson Locations: Muddy, Luxembourg, Czech, Group's Frankfurt, Tradeweb, Germany, Czech Republic, Poland, Central, Eastern Europe

☆ Systematic hedge funds pummeled in post-U.S. CPI stocks rally - Goldman Sachs
▼ + stars: | 2023-11-16 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Stockpicking hedge funds that actively chose bets managed to gain 0.6% on Tuesday and are now poised for their best month since January this year, said Goldman Sachs. These hedge funds posted a positive 2.7% performance for the month to November 14 and up were up 5.8% for the year so far, the Goldman note added. Quantitative multi-strategy hedge funds have been the best performing strategies so far this year, with an 11.05% positive performance to end-October, said BNP Paribas. Hedge funds which trade on market volatility bear the lowest average of a 2.46% gain for the year to the end of October, said the French bank.

Persons: Brendan McDermid, Goldman Sachs, Goldman, Nell Mackenzie, Dhara Ranasinghe Organizations: New York Stock Exchange, REUTERS, Global, Reuters, Nasdaq, BNP, Thomson Locations: New York City, U.S

[1/3] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsLONDON/NEW YORK, Nov 13 (Reuters) - Global stocks traded cautiously on Monday as the market's focus turned to U.S. inflation data for more clues on whether global interest rates really have peaked. Economists polled by Reuters expect to see headline consumer price inflation in the U.S. slow to 3.3% in October from 3.7% the month before, although the so-called core inflation rate that strips out volatile components is seen unchanged. "But now, the Treasury market has already priced in a pause, so there's not much room for Treasury yields to fall further," removing a support for the stock market. "In short, I don't think the stock market rally is going to continue."

Persons: Brendan McDermid, Naka Matsuzawa, Joe Biden, Xi Jinping, Naomi Rovnick, Nell Mackenzie, Kevin Buckland, Jacqueline Wong, Mark Heinrich Our Organizations: New York Stock Exchange, REUTERS, Global, Dow, Nasdaq, Barclays, Federal Reserve, Reuters, Nomura Securities, Treasury, Economic Cooperation, Brent, . West Texas, Thomson Locations: New York City, U.S, Israel, United States, Asia, San Francisco, Iraq, London, Tokyo

Powell's remarks on Thursday that the fight to restore price stability "had a long way to go" at first roiled markets. "If we were to get a low CPI next week, yields can come down around that number and we may get some weakening in the dollar." MSCI's gauge of global equity performance (.MIWD00000PUS) gained 0.54%, while stocks on Wall Street surged 1% or more. U.S. Treasury yields rose sharply on Thursday after a very weak 30-year bond auction. U.S. crude rose $1.43 to settle at $77.17 a barrel, while Brent settled up $1.42 at $81.43 a barrel.

Persons: Kim Kyung, Jerome Powell, Michael James, Thierry Wizman, Wizman, Mullarkey, Tapas Strickland, Brent, Nell Mackenzie, Dhara Ranasignhe, Tomasz Janowski, Richard Chang Organizations: Tokyo Stock Exchange, REUTERS, Wall, Federal, Wedbush Securities, Fed, FX, Dow Jones, Nasdaq, U.S, Treasury, SLC Management, Reuters, NAB, New, Thomson Locations: Tokyo, Japan, Los Angeles, Macquarie, New York, Europe, Boston, China, Beijing, New Zealand, London

"If we were to get a low CPI next week, yields can come down around that number and we may get some weakening in the dollar," Wizman said. The two-year Treasury yield, which reflects interest rate expectations, fell 0.2 basis points to 5.020%, while the benchmark 10-year yield was down 3.2 basis points at 4.598%. Traders would be keeping a close watch on interest rate volatility, said Schneller, noting major market fluctuations recently. "A primary cause for this volatility is the debate over whether the current Fed funds rate is overly high or insufficient." In currency markets, the dollar index rose 0.019% to 105.91, with the euro up 0.04% to $1.067.

Persons: Kim Kyung, Powell, Jerome Powell, Thierry Wizman, Wizman, Powell's, Bruno Schneller, Schneller, Tapas Strickland, Brent, Nell Mackenzie, Dhara Ranasignhe, Tomasz Janowski, Richard Chang Organizations: Tokyo Stock Exchange, REUTERS, Global, International Monetary Fund, Fed, FX, Dow Jones, Nasdaq, Treasury, INVICO Asset Management, Reuters Graphics U.S, NAB, New, Thomson Locations: Tokyo, Japan, Macquarie, New York, China, Beijing, New Zealand, London

☆ Hedge funds pile into US stock rally at fastest pace in 2 years - Goldman Sachs
▼ + stars: | 2023-11-06 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

A screen displays the trading information for Goldman Sachs on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 17, 2022. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Nov 6 (Reuters) - Hedge funds last week "aggressively" bought U.S. stocks at the fastest pace in two years, said a Goldman Sachs note (GS.N), with traders jumping into a stock rally fuelled by hopes that the U.S. central bank rate pause might stick. Many got tangled up trying to flee crowded trades which became losing positions, Goldman Sachs (GS.N) said in that note. Hedge fund long positions in information technology stocks reached the largest in eight months, said Goldman Sachs. The largest hedge fund buying centered on North America, while Europe and Asia apart from Japan which were subject to the net short positions, said Goldman Sachs.

Persons: Goldman Sachs, Brendan McDermid, Morgan Stanley, Nell Mackenzie, Dhara Ranasinghe, David Evans Organizations: New York Stock Exchange, REUTERS, Nasdaq, nab, Thomson Locations: New York City, U.S, North America, Europe, Asia, Japan, China

☆ Exclusive: Hedge fund Caxton wins on bond rout to claw back performance losses - sources
▼ + stars: | 2023-11-03 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

They added that the fund had about a negative 2% performance for the year to the end of October. The CGI fund, at the end of June had been down about 8%, added one of the sources. The CGI fund did well from a view that the Bank of Japan would ease its ultra-loose monetary policy, said two of the sources. They also said short bets that bond prices would fall, as well as bets the U.S. Treasury yield curve would steepen were some of the top earners for the fund. Caxton's CGI fund also profited from the difference between Japanese and U.S. stock prices, the sources said, adding that losses on commodities bets in gold and a yen hedge detracted from performance.

Persons: Dado Ruvic, Andrew Law's, Caxton, Jerome Powell, Bruce Kovner, Nell Mackenzie, Carolina Mandl, Svea Herbst Bayliss, Maiya, Dhara Ranasinghe, Kirsten Donovan, David Evans Organizations: REUTERS, Caxton Associates, Caxton Global Investments, Bank of Japan, Treasury, Federal Reserve, Thomson

☆ Hedge funds caught in crowded trades suffered in Thursday's stock rally -Goldman Sachs
▼ + stars: | 2023-11-03 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. Systematic fund managers, particularly those which had short bets on highly traded stock names, got caught trying to get out of crowded trades and found themselves stuck in losing positions, Goldman Sachs (GS.N) said. A short stock position bets its price will decline. An index of these funds tracked by Goldman Sachs had their "third worst single day this year," the investment bank said in a note to clients. The hedge fund strategies Goldman Sachs tracked included "market neutral" hedge funds which try not to hold an overwhelmingly long or short view on the market, as well as "arbitrage" funds, which profit from the difference in company stock prices in related sectors.

Persons: Goldman Sachs, Andrew Kelly, Goldman, Jerome Powell, Nell Mackenzie, Mark Heinrich Our Organizations: REUTERS, Goldman Sachs, Global, U.S . Federal Reserve, Fed, Treasury, Thomson Locations: Manhattan , New York, U.S

☆ Odey Asset Management to close, website statement reads
▼ + stars: | 2023-10-31 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

Hedge fund manager Crispin Odey uses his phone outside of Hendon Magistrates' Court whilst facing one charge of indecent assault, in Hendon, London, Britain February 17, 2021. REUTERS/Toby Melville/ File Photo Acquire Licensing RightsLONDON, Oct 31 (Reuters) - Odey Asset Management, one of Britain's best known hedge funds, will shut, it said on Tuesday in a statement on its website, less than six months after its founder faced fresh allegations of misconduct. Crispin Odey, 64, was ousted in June from Odey Asset Management (OAM), which he founded in 1991, after the Financial Times and Tortoise Media reported that 13 women had alleged that he had sexually assaulted or harassed them. Where each fund manager would move, or if their fund was closed without finding an alternative home, was detailed on the hedge fund's website. No new fund manager for Sophia Whitbread, the only female portfolio manager listed, was named.

Persons: Crispin Odey, Toby Melville, Odey, James Hanbury, Jamie Grimston, Oliver Kelton, Freddie Neave, Geoffrey Marson, Canaccord Genuity, Adrian Courtenay, Green, Sophia Whitbread, Peter Martin, Nell Mackenzie, Alun John, Mark Potter Organizations: Hendon Magistrates, REUTERS, Odey, Management, Odey Asset Management, Financial Times, Tortoise Media, Asset Management, Lancaster Investment Management, Reuters, Inc, Bainbridge Partners, Thomson Locations: Hendon, Hendon , London, Britain, S.W, Mitchell

Electronic boards showing stock information are pictured at the stock market, in Dubai, United Arab Emirates, November 5, 2020. "Such an escalation could lead to increased oil prices, concerns about oil supply, and the potential for a global economic downturn." In the unlikely event the United States sends troops into the Middle East, Belote expected a $20 jump in oil prices, "if not more". "Israel has better relations with other Arab countries compared to then," JP Morgan private bank strategist Madison Faller said in a note, "and global oil supply is not as concentrated." Reuters Graphics5/ TECH JITTERSWhat's good for oil stocks can be bad for big tech.

Persons: Abdel Hadi Ramahi, Hamza Meddeb, Malcolm H, Brent Belote, Belote, JP, Madison Faller, Nadia Martin Wiggen, Alessia Berardi, Amundi's Berardi, Trevor Greetham, Morgan Stanley, Jeff, London's Greetham, Naomi Rovnick, Nell Mackenzie, Marc Jones, Dhara Ranasinghe, Sharon Singleton Organizations: United Arab Emirates, REUTERS, Kerr Carnegie Middle East Center, Oil, JP Morgan, Svelland, Reuters Graphics Reuters, U.S, Reuters, Swiss, Royal, Aegon, Deutsche Bank, Aerospace, Thomson Locations: Dubai, United Arab, Israel, Gaza, Beirut, IRAN, Iran, U.S, United States, Arab, Turkey, Ukraine, Egypt, Jordan, Iraq, Saudi Arabia, Qatar, Bahrain, Suez, London

☆ Hedge funds short food, beverage and tobacco stocks amid soaring bond yields -Goldman Sachs
▼ + stars: | 2023-10-16 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsLONDON, Oct 16 (Reuters) - Global hedge funds last week sold food, beverage and tobacco company stocks at the fastest pace in 11 weeks, a Goldman Sachs note said, as these stocks, viewed as a proxy for bonds, could not match the recent surge in U.S. Treasury yields. Short sales outpaced long buys about 4 to 1, said Goldman Sachs. The selling took the form of short bets on companies that sell food, beverage and tobacco products and the exit of long positions in household products and food products. Reporting by Nell Mackenzie, Graphics by Lewis Krauskopf; Editing by Dhara Ranasignhe and Deborah KyvrikosaiosOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Goldman Sachs, Nell Mackenzie, Lewis Krauskopf, Dhara Ranasignhe, Deborah Kyvrikosaios Organizations: New York Stock, REUTERS, Global, Treasury, Reuters, Graphics, Thomson Locations: Manhattan, New York City , New York, U.S

High funding needs and central banks removing support are increasing pricing uncertainty for investors, Sophia Drossos, hedge fund Point72 Asset Management's chief economist, said. Spending plans lacking credibility were seen as most likely to spark market turmoil. I suspect not by default, but when markets start reflecting their worries in Treasury prices, by a political crisis and a potentially ugly adjustment," the former IMF chief economist said. "We need more investment, not less," said King's College London professor Jonathan Portes, Britain's cabinet office chief economist during the financial crisis. Not enough reforms are being implemented, OECD chief economist Clare Lombardelli warned.

Persons: Andrew Kelly, Peter Praet, Praet, Sophia Drossos, Daniel Ivascyn, Claudio Borio, Olivier Blanchard, Ray Dalio, Janet Yellen's, Yellen, Jim Leaviss, Giancarlo Giorgetti, Daleep Singh, Joe Biden, Britain's, Yellen's, Jonathan Portes, Clare Lombardelli, Moritz Kraemer, Yoruk Bahceli, Maria Martinez, Leigh Thomas, Giuseppe Fonte, Nell Mackenzie, Naomi Rovnick, William Schomberg, Jan Strupczewski, Dan Burns, Elisa Martinuzzi, Riddhima Talwani, Jayaram, Emelia Sithole Organizations: Financial, of, REUTERS, Institute of International Finance, Reuters, European Central Bank, ECB, Bank for International, Peterson Institute for International Economics, Associates, U.S . Treasury, Wall, Economy, Britain's Treasury, Congressional, Britain's, Institution, Reuters Graphics ACT, King's College London, Labour Party, OECD, Graphics, Thomson Locations: of Manhattan , New York City, U.S, Italy, Britain, United States, Europe, Ukraine, Berlin, Paris, Rome, London, Brussels, Washington, Marrakech

High funding needs and central banks removing support are increasing pricing uncertainty for investors, Sophia Drossos, hedge fund Point72 Asset Management's chief economist, said. Spending plans lacking credibility were seen as most likely to spark market turmoil. I suspect not by default, but when markets start reflecting their worries in Treasury prices, by a political crisis and a potentially ugly adjustment," the former IMF chief economist said. Italy's 2.4 trillion-euro debt pile is the focus in Europe, where the IMF has said high debt leaves governments vulnerable to crisis. "We need more investment, not less," said King's College London professor Jonathan Portes, Britain's cabinet office chief economist during the financial crisis.

☆ Hedge funds expected to ramp up returns on higher rates - BNP survey
▼ + stars: | 2023-10-11 | by ( Nell Mackenzie | ) www.reuters.com time to read: +3 min

REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsLONDON, Oct 11 (Reuters) - Investors expect hedge funds to produce higher returns with the prospect of interest rates staying higher for longer, a BNP Paribas [RIC:RIC:BNPPL.UL] investor survey showed on Wednesday. Investors now expect hedge funds to return an average of 9.75% annually within an average of 19 months, up from 6.85%, according to the survey. However, hedge funds themselves think this will take longer, up to 29 months, the survey showed. BNP Paribas said historical evidence shows hedge funds tend to perform well in higher and stable interest rate environments and less so when rates are lower. BNP Capital Introduction Group surveyed 82 hedge fund managers in what it called the "summer" of 2023.

Persons: Carlo Allegri, Michael Oliver Weinberg, “, ”, Weinberg, Nell Mackenzie, Dhara Ranasinghe, Kirsten Donovan Organizations: New York Stock, REUTERS, BNP, RIC, Investors, Group, Thomson Locations: Manhattan, New York City , New York, U.S

☆ Hedge funds sell energy stocks before Middle East conflict - Goldman
▼ + stars: | 2023-10-09 | by ( Nell Mackenzie | ) www.reuters.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. The surge in oil prices followed the largest military assault on Israel in decades, with hundreds dead and several abducted. Hedge funds had, as of Friday, ramped up selling to the fastest pace since early June in shares of U.S. companies that manufacture chemicals, building materials and paper products, said the note from Goldman Sachs' prime brokerage. U.S. energy stocks saw net sales in the week ending October 6 for the second straight week in a row and in the eight previous trading sessions, the bank said. The oil price was up by more than 3% on the day on Monday at $87.27 a barrel.

Persons: Brendan McDermid, Goldman Sachs, Brent, WTI, Nell Mackenzie, Amanda Cooper Organizations: New York Stock Exchange, REUTERS, Global, Saturday, Israel, White, Thomson Locations: New York City, U.S, Israel, Saudi Arabia, Washington, Riyadh, Saudi

☆ Analysis: Trend hedge funds come out winners in bond market rout
▼ + stars: | 2023-10-06 | by ( Nell Mackenzie | ) www.reuters.com time to read: +5 min

Yet in one corner of the hedge fund world, there's a sigh of relief. So-called trend following and systematic hedge funds have long positioned for a fall in government bond prices given higher-for-longer inflation. AlphaSimplex is a $7.9 billion trend following hedge fund. While many trend funds, also known as "managed futures" funds, use price data, their trading models might also interpret macro economic factors playing out in markets. Some trend funds shrank their fixed income holdings in response to the March turmoil.

Persons: Carlo Allegri, Kathryn Kaminski, Morningstar, Razvan Remsing, Yao Hua Ooi, Laurent Le Saint, Metori, Aspect's, Nell Mackenzie, Dhara Ranasinghe, Susan Fenton Organizations: New York Stock, REUTERS, Generale, Reuters, Silicon Valley Bank, Treasury, Virtus, AQR Capital Management, Capital Management, Thomson Locations: Manhattan, New York City , New York, U.S, United States, Germany, Boston, Silicon, Europe, China, Paris, EU, Japan

☆ Banks stocks back in vogue for hedge funds in September -Morgan Stanley
▼ + stars: | 2023-10-03 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

The corporate logo of financial firm Morgan Stanley is pictured on the company's world headquarters in New York, U.S. April 17, 2017. Both long and short exposure to all European stocks still sat at relatively low levels for U.S. and European hedge funds. U.S.-based managers' holdings of European equities remain at relatively lower levels than has historically been the case, while European hedge funds' positions in Europe are near their lowest levels since 2010, Morgan Stanley said. European hedge funds have higher exposure to companies listed in the U.S. and Asian countries other than Japan. Morgan Stanley, as one of the biggest providers of lending and trading services to hedge funds, is able to track their investment trends.

Persons: Morgan Stanley, Shannon Stapleton, Morgan Stanley's, Nell Mackenzie, Bernadette Baum Organizations: REUTERS, Global, North, U.S, Thomson Locations: New York, U.S, Europe, Japan

☆ Hedge funds using computers to sell up to $30 billion of stocks soon - UBS
▼ + stars: | 2023-10-02 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

A logo of Swiss bank UBS is seen in Zurich, Switzerland March 29, 2023. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsLONDON, Oct 2 (Reuters) - Hedge funds using computers to trade equities are expecting to start selling to the tune of $20 billion to $30 billion in the next two weeks given retreating stock markets, a UBS (UBSG.S) note seen by Reuters shows. Hedge funds using algorithms to follow market trends have turned neutral from bullish on stocks, the UBS note said. This will be the first time these hedge funds will be net short equity markets since November 2022, the bank said. The size of the U.S. stock market is estimated to be $46.2 trillion, according to the Securities Industry and Financial Markets Association.

Persons: Denis Balibouse, CTAs, Nell Mackenzie, Dhara Ranasinghe, Alison Williams Organizations: Swiss, UBS, REUTERS, Reuters, Securities Industry, Financial Markets Association, Currency, Bank for International, Thomson Locations: Zurich, Switzerland, U.S

☆ Hedge fund Eisler Capital uses basis trades to add to positive year
▼ + stars: | 2023-09-29 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

LONDON, Sept 29 (Reuters) - Hedge fund Eisler Capital posted a 4.17% positive performance for the year to end-August, it said in a letter to investors, benefiting from a basis-trade strategy that has regulators worried about financial stability risks. According to the letter seen by Reuters, basis trades have been a part of the most profitable trading strategy for the $3.7 billion London-based hedge fund this year. While the fund uses basis trades in U.S. Treasuries, it also employs them with the euro, Swiss franc and Swedish government bonds, the letter showed. A Fed paper on Aug. 30 said that if these positions represent the so-called basis trades, "sustained large exposures by hedge funds present a financial stability vulnerability" warranting "diligent monitoring." The Eisler investor letter also showed the hedge fund uses swap derivatives to mitigate the riskiness of its positions.

Persons: Eisler, Kevin Lenaghan, Nell Mackenzie, David Holmes Organizations: Eisler, Reuters, Swiss, Bank for International, Ivy Academy, Thomson Locations: Los Angeles, U.S, Europe

The benchmark 10-year Treasury yield hit 4.399% overnight in Asia, its highest rate since early November 2007, and the two-year yield rose further above 5%. MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.27%, while the pan-European STOXX 600 index (.STOXX) lost 1.05%, hit by lowered growth outlooks. CENTRAL BANKSGlobal central banks take stage, with five of those overseeing the 10 most-heavily traded currencies holding rate-setting meetings this week. A swathe of emerging market central banks including Turkey and South Africa will also meet. The Swedish crown sank to a record low against the euro on Monday, days before the Riksbank is expected to raise interest rates again.

Persons: Brendan McDermid, BOE, Brent, Marc Chandler, Chandler, Saira Malik, France's, Stocks, Xi, Kazuo Ueda, Herbert Lash, Nell Mackenzie, Dhara, Stella Qiu, Philippa Fletcher, Alexander Smith, Christina Fincher Organizations: New York Stock Exchange, REUTERS, Treasury, Global, Federal, United Auto Workers, Detroit Three, Bannockburn Global, U.S, Societe Generale, Dow Jones, Nasdaq, China Evergrande, HK, CENTRAL, Bank of England, Bank of Japan, European Central Bank, Thomson Locations: New York City, U.S, China, Bannockburn, New York, Asia, Turkey, South Africa, Swedish, London, Sydney

China property woes, geopolitical tensions and ongoing strikes also stoked worries about global growth. CENTRAL BANKSGlobal central banks take centre stage, with five of those overseeing the 10 most heavily traded currencies holding rate-setting meetings this week. A swathe of emerging market central banks such as Turkey and South Africa will also meet. In currency markets, the dollar drifted lower with the dollar index last down a touch at 105.24 but within sight of recent six-month highs. The euro gained about 0.1% to $1.0663, after slumping to a 3-1/2 month low of $1.0632 last week as the European Central Bank signalled its rate hikes could be over.

Persons: BOE, BOJ, France's, Taiwan's TSMC, Xi, James Rossiter, Rossiter, Marc Chandler, Goldman Sachs, Kazuo Ueda, Nell Mackenzie, Stella Qiu, Dhara, Philippa Fletcher, Alexander Smith Organizations: REUTERS, Staff, Societe Generale, China Evergrande, HK, Technology, Reuters, TD Securities, Japan's Nikkei, Brent, . West Texas, Federal Reserve, Bannockburn Global, CENTRAL, Global, Fed, Bank of England, Bank of Japan, Treasury, European Central Bank, Thomson Locations: Frankfurt, Germany, China, United States, Japan, Scandinavia, Switzerland, Britain, Asia, U.S, London, Bannockburn, Turkey, South Africa, Europe, SYDNEY

LONDON, Sept 15 (Reuters) - The world's five biggest hedge funds have doubled their footprint in the U.S. stock market through leverage and trading positions since 2014, according to a Goldman Sachs (GS.N) note to clients seen by Reuters. "At this point, we estimate that multi-manager hedge funds hold 30% of the gross market value in U.S. equities," said the note referring to just the hedge fund industry's market footprint in U.S. stocks. Goldman calculates that the biggest hedge funds have about 1% of this stock. The size of the assets held by the biggest hedge funds also outstripped the rest of the industry, growing by 21% in the last 12 months versus 9% for the rest of the hedge fund industry, the note said. This was the first time in Goldman's data that multi-manager hedge funds underperformed the risk free rate, or core government bond yields, Goldman said.

Persons: Goldman Sachs, Goldman, Nell Mackenzie, Dhara Ranasinghe, Mark Potter Organizations: Reuters, Securities Industry, Financial Markets Association, Goldman, Thomson Locations: U.S, Carolina

☆ Crunch time after string of aggressive central bank rate hikes
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +5 min

Major central banks have confounded economists with a string of interest rate rises that, so far, have moderated inflation without causing global recession. So far, nine developed economies have raised rates by a combined 3,915 bps in this cycle. Reuters Graphics2) NEW ZEALANDThe Reserve Bank of New Zealand lifted its cash rate to a 14-year high of 5.5% in May and has kept it there since. Reuters Graphics7) AUSTRALIAThe Reserve Bank of Australia kept rates steady at 4.1% for a third consecutive meeting in September, the last under former Governor Philip Lowe. Reuters Graphics10) JAPANThe Bank of Japan, the world's most dovish major central bank, meets next week.

Persons: BoE, Macklem, Philip Lowe, Lowe's, Michele Bullock, Naomi Rovnick, Harry Robertson, Samuel Indyk, Nell Mackenzie, Alun John, Yoruk Bahceli, Chiara Elisei, Vincent Flasseur, Sumanta Sen, Pasit, Dhara Ranasinghe, Sharon Singleton Organizations: European Central Bank, U.S . Federal Reserve, UNITED, Reuters, Federal Reserve, Reserve Bank of, BRITAIN, of England, CANADA Bank of Canada, Bank of Canada, ECB, Norges Bank, SWEDEN Traders, Swiss, Bank of Japan, Thomson Locations: U.S, Japan, Reserve Bank of New Zealand, NORWAY, Reserve Bank of Australia, SWEDEN, Swedish, SWITZERLAND Swiss, JAPAN

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