Hedge funds short food, beverage and tobacco stocks amid soaring bond yields -Goldman Sachs

© Reuters. FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri/File Photo

Hedge fund short bets in consumer staples in the week to Friday Oct. 13 hit the highest amount seen in three months and ranked among the highest levels hit in the past five years, said the note from Goldman Sachs prime brokerage, which serves hedge funds.Shares of U.S. consumer staples have fallen about 10% so far this year as these stocks, which normally deliver consistent and higher dividends than U.S. Treasuries, were no match for recent soaring government bond yields.

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