at a fast pace until inflation came under control, Reuters reports. These types of funds play in markets like currencies and government bonds, where prices are driven by big-picture economic issues.
But when the banking panic broke out, people instead rushed for the safety of government bonds, pushing rates — which move in the opposite direction of prices — sharply lower.That means those who had been betting on higher rates — and, therefore, lower prices — had to rush to buy bonds, supercharging the already big upward move in prices and downward dive in yields.
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