Currencies and bonds bounce into the New Year after a happy holiday
The dollar's slide and a resurgent euro gave currency traders something to celebrate in December
CTA managers enjoyed profits from trends in rebounding currency and bond markets at the end of 2004.
David Walsh, managing director and chief investment officer at Dublin-based Appleton Capital Management, says the firm's Global Opportunity Programme (GOP) returned the equivalent of 15.05% net in 2003 – including backtesting before the portfolio's May launch, according to figures from the firm.
"Last year was a good year, defined by the pull back in December. It was a good first and second
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