A new report from SocGen, via MarketFolly, suggests a record short bias against the euro against hedge funds.That dovetails with other data we’ve seen confirming that speculators in general are placing record euro short bets.
What’s astounding is the 180-degree sentiment reversal from last year, when everyone hated the dollar, and what’s scary is how fast these trades go from one direction to another.
If the upcoming European bond auctions do fine, and Greece doesn’t go down in flames, things could reverse fast, and the new found Euro bears could get slaughtered.
And don’t miss: the hedge funds directly betting on the Greek collapse >
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