Finally, hedge funds had a good month! According to Eurekahedge reports, May is the “best month in nine years.” The Singapore-based data provider’s Eurekahedge showed that Hedge Fund Index rose 5.2% last month, based on preliminary figures, its best since February of 2000. The index is now up 9.2% on the year. Asian hedge funds were the best performers in May, rising 9%, followed by emerging markets funds a 8.5%, a record for the strategy. Event-driven funds also did well, with a 7.2% return in May, as did long/short equity, which jumped 6.7%. There is more good news for hedge funds. According to Eureka, hedge funds actually received new money in May, the first time in 10 months that the industry has seen a net inflow. Total $3.2 billion came into the industry last month against $1.7 billion in redemptions.
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Good News for Hedge Funds in May
June 12 2009, 9:29pm | Comments »
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China still a net importer of steel in May
China remains a net importer of steel in May, importing 53.46 million tonnes of iron ore, slightly down from April’s record 57 mio tonnes. This markes the 3rd month in a row that imports have exceeded outflows for China, a country that has been a net steel exporter since 2005.
June 11 2009, 4:22am | Comments »
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Beige Book still downbeat; Weak or worsening conditions thorough May
No green shoots to speak of in the Beige Book.
Conditions weak or worsened through May Expectations improved but big gains in activity not expected through year-end Labor markets stayed weak Wages falling or flat Residential real estate still weak Retail sales soft credit improved 5 of 12 districts show moderating downward trend Demand for natural resources remain depressed
Stocks remain under pressure, helping support the dollar further. EUR/USD has broken 1.3930 support. USD/CAD stops are eyed above 1.1200.
June 10 2009, 9:01pm | Comments »
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ANZ job ads fell by 0.2% in May
This was the 13th straight month of falls.
June 9 2009, 5:53am | Comments »
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