Monday, January 5, 2009

Majority of Major Hedge Fund Managers Remain Bearish on U.S. Dollar

The majority of major hedge fund managers are increasingly bearish on the U.S. dollar, and aren't too optimistic about U.S. Treasury bonds or equities either, according to a Greenwich Alternative Investments survey.

Of the hedge fund managers queried, 62 percent said they were bearish concerning how the U.S. dollar would perform in January. That's the highest percentage of bearish responses to the survey since March 2007. It's an 8 percent jump from just December's numbers.

For equities, bearishness rose by 16 percent, as only 46 percent were bullish on how U.S. equities would perform during January 2009, a significant drop from December's 62 percent bullishness.

As for the 10-year Treasury bonds, they remained unchanged, as 54 percent of managers remained bearish, the same as December. What did increase were those who were neutral, as respondents increased to 31 percent in that category, up from the 15 percent neutrals in December. That means only about 15 percent of respondents remained bullish on January 10-year Treasury bonds.

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