THE CTA FUND MAKES A RECORD OF EMPTY GLOBAL BONDS, AND THE UNITED STATES CPI DATA WILL DETERMINE GAINS AND LOSSES

According to Bloomberg, data from the Swiss Bank Group show that in July the CTA Fund tripled its position on low-end bonds over two weeks ago. The forthcoming U.S. Consumer and Producer Price Index (CPPI) will risk losses if it stimulates high prices of national debt. The early release of the strategist N.L.L. Le Roux indicated that prior to the publication of inflation data, the CTA had a gain or loss of about $300 million for each change in the 10-year national debt rate, the largest exposure since the Bank began producing the relevant data in 1990. The current CTA Fund has accumulated extreme empty positions in the bond market, which has significantly increased the sensitivity of the market to inflation data. Once data performance deviates from expectations, it will trigger large-scale fluctuations in positions and markets. This data is a defining variable not only for macroeconomic trends but also for current financial market liquidity and asset pricing。