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Yaroslav Dmytrenko
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Andy Constan: Closed long bond position, remains short stocks with reduced exposure

Andy Constan: Closed long bond position, remains short stocks with reduced exposure
Constan closes long bonds, halves stock shorts

Andy Constan, founder and strategist at Damped Spring Macro, said he has closed the maximum long bond portion of his trade, having exited at around 109 on ZB. He remains short stocks, describing his current position as having half as much anti-growth risk exposure for now, until he decides to double his short stock exposure.

Constan has previously commented on equity positioning, stating that the difference between 48% and 56% net long for l/s equity funds produces only a minimal 1.2% return gap, as noted here. He also described a recent deal involving ONDS shares as highly unfavorable for shareholders, after which the stock dropped 55% to a new low year-to-date. These earlier views frame his current shift in risk exposure.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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