Pershing Square Holdings' Bill Ackman cuts bet against 30-year US Treasuries

‘Too much risk in the world’

Pershing Square Capital Management, the hedge fund that runs the £10.7bn Pershing Square Holdings trust, has covered its bet against 30-year US Treasuries.

Founder and CEO Bill Ackman wrote on X, formerly Twitter, on Monday (23 October): "We have covered our bond short. There is too much risk in the world to remain short bonds at current long-term rates. The economy is slowing faster than recent data suggests." The move came after the 10-year US Treasury yield climbed to the 16-year high of 5.02% yesterday, according to data from MarketWatch, as concerns grew over the central bank's higher for longer narrative. The yield on the 30-year US Treasuries went as high as 5.175%. The hedge fund manager first disclosed his short position in 30-y...