Oil speculators bet right on prices after a fire at a refinery supplied by the biggest U.S. crude hub curbed demand and drove futures to a six-month low.
With Standard & Poor’s saying Argentina is in default and last-minute plans to remedy the situation falling through, investor focus is turning to whether holders of $29 billion of bonds will demand immediate repayment.
Hedge funds increased their bets on a gold rally, just before prices fell for a second week as an accelerating U.S. economy outweighed concern that violence between Russia and Ukraine will escalate.
A less traditional song could also be heard in the streets of Rosario, Argentina’s third-biggest city and the birthplace of team captain Lionel Messi: a profanity-laced taunt of the hedge funds that have battled the government over defaulted debt since 2001.
They say it’s a good idea to check in on elderly loved ones during the hot summer months. And after the rough spring they had, it’s probably also a good idea to check in on loved ones managing equity hedge-funds.
The net-long position contracted to the lowest since mid- February as speculators sold bullion on signs of accelerating U.S. economic growth. The investors more than doubled bets on lower prices in the past month
