
Some quants fear more deleveraging to come
Buy-siders brace for further selling after hedge funds dumped risk in March

The mass unwinding of leveraged trades by hedge funds in March may have further to run, raising fears of more volatility in asset prices and causing problems for many rules-based investors.
Hedge funds offloaded risk so rapidly last month that one measure of popular hedge fund trades monitored by Wolfe Research made a sixteen-standard deviation move lower – something that should happen less than once in a billion years.
Markets have since recovered some of the lost ground. US stocks are up
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