(Business Insider) Perry Capital, a $10 billion New York-based multistrategy hedge fund led by Goldman Sachs alum Richard Perry, is making a $1 billion bet against investment-grade corporate bonds, according to The Wall Street Journal.The Journal reports that Perry Capital is shorting debt issued by 10 companies. The report didn’t specify which companies, but it said the fund’s short bet included owners of commercial real estate and telecom companies.For the trade, the fund purchased credit-default swaps on the bonds at a cost of about $10 million a year, the report said.
A New York hedge fund is making a $1 billion bet on more bond-market pain
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