Some of the world's biggest macro traders slumped in the first six months of the year, with Andrew Law’s Caxton Macro hedge fund and Jeff Tallinn's Element Capital Management among the big name managers seeing first half losses, according to a report by Bloomberg.

Some of the world's biggest macro traders slumped in the first six months of the year, with Andrew Law’s Caxton Macro hedge fund and Jeff Tallinn's Element Capital Management among the big name managers seeing first half losses, according to a report by Bloomberg.

Element ended H1 down 20% while Element Capital Management slumped to a 15.4% year-to-date loss on the back of a 7.7% decline in June.

Other big name macro managers including Chris Rokos and Said Haidar managed to make money last month but not enough to recover losses from March when the collapse of Silicon Valley Bank roiled markets and hot leveraged rates market bets.

Haidar's flagship Jupiter fund scored a 27.3% gain in June but remains down 28.5% for the first half of the year, while Rokos's macro fund has recovered most of its 2023 losses after being down 15% at one point in March.