Yield curve inverts, managers rejoice
While the US yield curve spells market inflexion for some managers, metals are catching other managers' eyes
Global macro managers are looking to commodities and metals for the big trends in 2006.
Sassan Alizadeh, portfolio manager of Highview Global Capital Management's Highview Global Macro Fund says: "The backwardation [of the copper market] indicates that there is a very tight supply, so our model suggests taking a long position."
The fund, which returned 14.93% in 2005, employs fundamentally based quantitative models to cross-trade systematically pairs of commodity and currency futures and options.
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