Lazard and Pimco profit from shorting Hong Kong dollar

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

The rapid rise in US interest rates has roiled investments from technology stocks to cryptocurrencies. But one trade is enjoying a renaissance: shorting the Hong Kong dollar.

Lazard Asset Management, Fiduciary Management and Pimco held net short positions of US$323 million, US$110 million and US$89 million in Hong Kong dollar FX forwards, according to data gathered from regulatory filings in the US (see figure 1). The investors placed their short bets at prices ranging from HK$7.7567 to HK$7

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.

You are currently unable to copy this content. Please contact [email protected] to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]