Managed futures managers

For the managed futures community, September had two major market events. The first performance shock came with the announcement on 4 September by the National Association of Purchasing Managers that consumer confidence was high. This view was the opposite of that held by most of the market and set-off a 24-hour session of 'no recession' talk during which short-term interest rate contracts experienced a great deal of volatility. Commodity trading advisors (CTAs) caught up with this sustained hig