Improbable bets on break of Hong Kong dollar peg adding up
It’s what is known in the markets as a “tail risk”: a highly unlikely scenario in which Hong Kong’s currency peg suddenly snaps. Yet market pricing suggests bets on such a shock are building in the hedge fund world, and some traders say it makes a lot of sense.
Bill Ackman rejigs Universal deal after regulators probe SPAC plan
Billionaire investor Bill Ackman will buy up to 10% of Vivendi’s (VIV.PA) Universal Music Group through his main hedge fund, rather than a special purpose acquisition company, after investors and regulators questioned his use of a SPAC.
