Every investment trend that defined the wild first half of the year on Wall Street is staging a messy reversal in the latest twist of an exhausting year in markets.
. Once-dependable momentum trades are misfiring. Inflation-lashed bonds are bouncing back.
Put another way, every investing trend that defined the wild first half is staging a messy reversal in theWith US Federal Reserve officials continuing to issue hawkish missives, playing it dumb – by sitting in cash or long-US dollar positions – may look like a smart move for now.“It’s been a volatile year for stocks and bonds – first to the downside, now to the upside,” said Willie Delwiche, investment strategist at All Star Charts.
Trend followers, who started the year as one of the biggest winners by shorting stocks and bonds, have also been swept up in the reversal. After notching a more than 20 per cent gain in the first half of this year per a Societe Generale index, these so-called commodity trading advisers have lost more than 7 per cent over the past two months.
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