The state of hedge funds – Is global macro back?
After a fallow period following the global financial crisis, global macro funds last year delivered their best performance since 2008, with aggressive bets on soaring interest rates. This comes as no surprise, as macro funds are supposed to thrive during seismic shifts in the macro regime. Will this prove to be a one-off for macro funds, or have we entered a new era of macro volatility in which this industry subset continues to thrive?
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