Trader Turns $60 Million Profit in Sharpest Bond Selloff of 2017
This article is for subscribers only.
One bond trader made a very timely bet on a selloff in the Treasuries market -- and is about $60 million in the black because of it.
The 30-year Treasury yield has soared 13 basis points to start the week, the steepest two-day increase in a year. The selloff has caused pain for some, including hedge funds and other large speculators, who ramped up net long positions in Treasury bond futures to a near-record in the week through Dec. 12, according to Commodity Futures Trading Commission data.