Speculators in the first days of June covered short positions across Chicago grains and oilseeds for a second consecutive week, motivated by dry weather for U.S. crops and multi-year lows across some contracts.
There's a large swathe of the investment community convinced that 2023 will be a solid year for U.S. Treasuries as falling inflation and likely recession prompt the Fed to cut interest rates, but hedge funds are not part of it.
Hedge funds Citadel and Millennium sidestepped January's stock market sell-off and posted gains when many other firms started the year off in the red, investors in the funds said on Thursday.
Hedge funds go into this week's Fed meeting holding one of their gloomiest-ever outlooks for U.S. Treasuries, with the heaviest selling pressure now being cranked up on 10-year bonds.