The Long Runway for Bond Shorts
What Goes Up
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Short Bonds, Long Dollar, and Other Liquid Futures
Inflation, rising rates as a theme that manifests itself across long commodities and short fixed income. This particular trade m sort of shifted to a short bonds and also long dollar trade. Later in the year, as commodities started to dissipate, we saw that epositioning and views on commodities moved much more to that recession versus non recession environment. And i think some of that comes with the fact that the central bankers have remained steady,. which has basitically said, you know, this pivot towards, i think this is over."
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