Bridgewater's Ray Dalio doubles short bets in Europe to $15b
Bridgewater doubles short bets in Europe to $15b
Ray Dalio’s Bridgewater Associates has built a $US10.5 billion ($15 billion) bet against European companies, almost doubling its wager in the past week to its most bearish stance against the region’s stocks in two years.
The world’s biggest hedge fund firm disclosed short bets against 28 companies that include individual wagers of more than $US500 million against ASML Holding, TotalEnergies, Sanofi and SAP, according to data compiled by Bloomberg. The total bet is up from $US5.7 billion against 18 firms last week, the data shows.
All the companies that Bridgewater is shorting are part of the Euro Stoxx 50 index. The move comes as Euro-area economic expansion slows sharply amid surging prices and Germany warns that high gas prices could trigger a …
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