Chris Rokos’s macro hedge fund has almost recovered from the losses it incurred earlier in the year because of wild swings in global interest rate markets, having posted a 4% gain last month on the back of a 5% return in May, according to a report by Bloomberg.

Chris Rokos’s macro hedge fund has almost recovered from the losses it incurred earlier in the year because of wild swings in global interest rate markets, having posted a 4% gain last month on the back of a 5% return in May, according to a report by Bloomberg.

The report cites an investor letter seen by Bloomberg as revealing that the $14 billion fund is now almost back in positive territory having at one point in March been down by some 15% following the collapse of Silicon Valley Bank, which sparked big swings in short-term interest markets.

The fund was ahead of its peers in June, with macro funds tracked by Bloomberg gaining on average just 1% over the month.