Hedge funds rush to unwind bets on falling markets as stocks surge

Quick Summary:

The bank estimated on Thursday that quantitative hedge funds lost around 1.3 per cent that day, their worst day in more than six months.

Equity markets have risen sharply so far this year, led by many of the speculative stocks that were clobbered hardest during 2022’s global sell-off.

On Wednesday the US Federal Reserve raised interest rates by a quarter of a percentage point, a smaller move than its series of large hikes last year, which raised hopes that borrowing costs may soon peak.

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Article Details

Author / Journalist: Laurence Fletcher

Category: MarketsFinanceInvesting

Markets: United States

Topics: Interest Bets Year Financial Cent Hedge Funds Stocks Thursday Last Data

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-02-04 @ 15:00:42 (1 months ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Readers: 97 people read this story

Article Length: 632 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 5157752

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About Financial Times

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Year Established: 1888

Headquarters: United States

News Last Updated: 8 hours ago

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Publisher ID: #3

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