Bill Ackman’s hedge fund, Pershing Square Capital Management, has closed its bond short position due to the high risk associated with shorting bonds at current long-term rates. Ackman had previously placed a bet against US 30-year Treasuries as a hedge against higher long-term rates on stocks. The economy’s slowdown and concerns about the US government’s fiscal health, increased debt issuance, quantitative tightening, and interest rate outlook have contributed to the recent bond selloff.
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