No magic bullets: Macro-hedgers look for eurozone protection

Macro aggro


An effective hedge for eurozone tail risk has to tick two boxes: it should be liquid enough so that large positions can be put on and taken off easily; and it should pay out when required. The foreign exchange market meets the first of those criteria. The difficulty – as many market participants are finding – is identifying a trade that meets the second.

“Whether we’re talking to corporates, pension funds, hedge funds or asset managers, this is a big focus. But the best hedge is not always the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: