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Ecology Action Centre calls for immediate implementation of Coastal Protection Act | SaltWireNEW YORK - Billionaire hedge fund manager Bill Ackman, who traditionally invests in stocks, earned roughly $200 million from a bet against U.S. 30-year Treasury bonds, a person familiar with the trade said on Wednesday.
"The economy is slowing faster than recent data suggests," Ackman said in the post, adding"There is too much risk in the world to remain short bonds at current long-term rates."Stocks including Chipotle Mexican Grill, Alphabet Inc, Restaurant Brands International, and Canadian Pacific Kansas City Limited make up the bulk of the Pershing Square portfolio, which is mainly set up to benefit from equities moving higher.
The yield on the 30-year Treasuries was around 4.16% when he announced his bet against them. He said the Treasury yield, which moves in the opposite direction of prices, could rise to 5.5%.
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