June 26, 2025 (NO COMMENTS)

For months, macro hedge funds have been betting that the US Treasury yield curve will continue to steepen. But with the steepening trend easing amid uncertainties around the US budget bill and rate cut timings, a number of macro funds have unwound their positions, or even moved into tactical flattening trades.

“On the fast money side, they have a smaller position than before. Probably at least 30