Lazard and Pimco profit from a short sale on the Hong Kong dollar
Rapidly rising interest rates in the United States have upended investments from tech stocks to cryptocurrencies. But one trade is enjoying a renaissance: shorting the Hong Kong dollar.
Lazard Asset Management, Fiduciary Management and Pimco held net short positions of $323 million, $110 million and $89 million in Hong Kong dollar forward foreign exchange contracts, according to data gathered from regulatory filings. in the United States (see Figure 1). Investors placed their short bets at prices ranging from HK$7.7567 to HK$7
Only users who have a paid subscription or are part of an enterprise subscription can print or copy content.
To access these options, as well as all other membership benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You cannot currently print this content. please contact [email protected] to know more.
You cannot currently copy this content. please contact [email protected] to know more.