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Some analysts warn that rising yields could push up borrowing costs, causing the economic slowdown investors are now betting against. The key question is how much further bear steepening the market needs to see for "investors to become nervous," he added. In 2018, for instance, the curve shifted to a bear-steepening dynamic as the economy appeared to hold up well despite the Fed's tightening. Risks remain, however, warned Jonathan Cohn, head of US Rates Desk Strategy at Nomura Securities International, including the pain for companies refinancing debt at higher rates and China's weakening growth. BEARISH BETSSome investors are worried that Powell’s speech at the Fed's annual economic symposium in Jackson Hole, Wyoming, could trigger a short squeeze.

Persons: Jerome Powell's, Michael Harris, Gennadiy Goldberg, Alfonso Peccatiello, Peccatiello, Jonathan Cohn, Powell, Harris, Eoin Walsh, Jim Cahn, Cahn, Michael Edwards, Weiss, there'd, Edwards, Davide Barbuscia, Michelle Price, Megan Davies, Mark Porter Organizations: Treasury, Futures, Quest Partners, Securities USA, Fed, Nomura Securities International, Investors, TwentyFour Asset Management, Thomson Locations: U.S, New York, Jackson Hole , Wyoming, Carolina

"Markets reacted positively because they saw the inflation data as a small positive," said Michael Harris, president at hedge fund Quest Partners LLC. The rate-sensitive S&P 500 technology sector index (.SPLRCT) went up 1.22% and the communication services (.SPLRCL) rose 1.69%. REUTERS/Brendan McDermidIndexes were choppy during the session, as investors digested the positive inflation print with concerns about the looming debt ceiling. Advancing issues outnumbered decliners on the NYSE by a 1.32-to-1 ratio; on Nasdaq, a 1.40-to-1 ratio favored advancers. The S&P 500 posted 18 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 86 new highs and 152 new lows.

☆ Analysis: SVB collapse unleashes Treasury volatility, whiplashing investors
▼ + stars: | 2023-03-14 | by ( Carolina Mandl | ) www.reuters.com time to read: +5 min

[1/2] Customers wait in line outside a branch of the Silicon Valley Bank in Wellesley, Massachusetts, U.S., March 13, 2023. REUTERS/Brian SnyderNEW YORK, March 14 (Reuters) - Extreme volatility is rattling U.S. Treasury markets in the wake of Silicon Valley Bank's (SIVB.O) collapse and investors fear a prolonged bout of gyrations before calm returns to bond markets. The Fed chief's hawkish message helped push yields, which move inversely to prices, to their highest levels in years. As investors piled back into Treasuries, yields plummeted. Over the longer term, sustained rate volatility is unlikely to be good for stocks, said Purves, of Tallbacken Capital.

☆ Analysis: Market turmoil a boon for trend-following hedge funds
▼ + stars: | 2022-10-17 | by ( Nell Mackenzie | ) www.reuters.com time to read: +4 min

Oct 17 (Reuters) - Trend-following hedge funds are capitalising on market disruption and geopolitical unrest, with funds such as Graham Capital Management, Aspect Capital, AlphaSimplex and AQR Capital Management all near or over 40% higher for the year. AQR is part of an index of the 10 largest trend-following hedge funds, compiled by Société Générale. The index has risen almost 37% this year, compared with a 3.8% increase in data provider HFR's broader index of hedge fund performance. Hedge funds Man Group, AlphaSimplex and Transtrend have reported trend strategies with performances this year of roughly 15%, 48% and 31% respectively. Funds in the Société Générale CTA index include AQR Capital Management, AlphaSimplex Group, Aspect Capital, Systematica Investments, Graham Capital Management, ISAM LLP, Lynx Asset Management, Man Group's AHL fund, Transtrend and Winton Capital Management.

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