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

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 63 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 78%

Portugal Notícia Notícia

Portugal Últimas Notícias,Portugal Manchetes

Market News

LONDON, Oct 16 - Global hedge funds last week sold food, beverage and tobacco company stocks at the fastest pace in 11 weeks, a Goldman Sachs note said, as these stocks, viewed as a proxy for bonds, could not match the recent surge in U.S. Treasury yields.

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.

U.S. 2-year Treasury yields rose about 15 basis points from Tuesday Oct. 10 to Friday the 13th. They continued their rise on Monday, climbing about 1.5 basis points . The consumer staples sector, selling products such as household goods, alcohol and tobacco products, in the week ending Oct. 13 made up the weakest performing group in the S&P 500 and was also the most net sold U.S. sector on Goldman Sachs' prime brokerage trading book, said the bank.The selling took the form of short bets on companies that sell food, beverage and tobacco products and the exit of long positions in household products and food products.

Reporting by Nell Mackenzie, Graphics by Lewis Krauskopf; Editing by Dhara Ranasignhe and Deborah Kyvrikosaios

Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 13. in PT
 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Hedge funds short food, beverage and tobacco stocks amid soaring bond yields -Goldman SachsMarket News
Fonte: KitcoNewsNOW - 🏆 13. / 78 Consulte Mais informação »

Dow futures rise amid Middle-East tensions: Stock market news todayEfforts to stop the Israel-Hamas clash from becoming a full-blown conflict have taken center stage as investors wait for earnings to roll in.
Fonte: YahooFinanceCA - 🏆 47. / 63 Consulte Mais informação »

Pickering Real Estate News and Housing Market UpdatesStoreys covers the latest on the housing and real estate markets in Toronto, Vancouver & across Canada. Get the latest real estate news.
Fonte: storeyspub - 🏆 16. / 74 Consulte Mais informação »

Vancouver Real Estate News - Latest Housing Market CoverageStoreys covers the latest on the housing and real estate markets in Toronto, Vancouver & across Canada. Get the latest real estate news.
Fonte: storeyspub - 🏆 16. / 74 Consulte Mais informação »

Stocks rally to kick off big earnings week: Stock market news todayEfforts to stop the Israel-Hamas clash from becoming a full-blown conflict have taken center stage as investors wait for earnings to roll in.
Fonte: YahooFinanceCA - 🏆 47. / 63 Consulte Mais informação »

Stocks rise amid Middle East tensions: Stock market news todayEfforts to stop the Israel-Hamas clash from becoming a full-blown conflict have taken center stage as investors wait for earnings to roll in.
Fonte: YahooFinanceCA - 🏆 47. / 63 Consulte Mais informação »