Hedge funds could feast on central bank action and growth in passives

How QE surrealism and massive passives have created risk in markets


Four years ago, markets threw a “tantrum” when the Federal Reserve hinted at tapering its quantitative easing (QE) programme. Over the past fortnight we’ve endured a “mini-tantrum” in government bond markets as the Fed girds itself to shrink its balance sheet and other central banks have adopted a more hawkish