Forget that knee-jerk reaction folks…according to
InsiderMonkey some hedge funds dump their bets against France (III) Some hedge
funds are calling it quits on one of their biggest trades of the year -
shorting French government bonds. Earlier this year many in London's hedge fund
industry were lining up bets against the euro zone's second-largest economy,
reckoning the May election of President Francois Hollande, a socialist, would
accelerate the country's deteriorating economic outlook. But the trade has not
worked out as planned. France's long-term borrowing costs fell to a record low
at auction last week as investors sought out safe havens. So some funds are now
cutting their losses or changing tactics, for instance betting against French
equities instead….
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