Massive market deleveraging & short-term USD funding stress
#Podcast — 23.03.2020

Massive market deleveraging & short-term USD funding stress

Grace TAM, Chief Investment Advisor Asia

Leveraged hedge funds in the US, especially systematic strategies (risk-parity funds, CTAs, volatility-controlled funds) saw massive deleveraging in equities and bonds. Combined with huge outflows from bond funds, US Treasury yields rose last week.