San Francisco Chronicle – Hedge funds’ bearish bets against the Standard & Poor’s 500 Index increased to the highest level since 2008 after this month’s stock slump raised concern that economic growth is slowing, Societe Generale SA analysts said.
The funds and other traders hold a net 71,000 futures contracts wagering that the S&P 500 will decrease in value, Societe Generale analysts led by Alain Bokobza wrote in a note to clients today. The short position is the highest since 2008, when Lehman Brothers Holdings Inc.’s bankruptcy triggered a global credit crisis, the analysts said.
