Pershing Square Capital Management (Pershing Square), the hedge fund led by Bill Ackman, has covered its bond short position according to a report by Reuters.
The report quoted Ackman as saying that it was “too risky” to remain short bonds at current long-term rates in a posting on Monday.
According to the report, concerns about the American fiscal debt including increased debt issuance from Treasury and the Federal Reserve's ongoing quantitative tightening program, have contributed to the rise in recent bond sell offs.
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