Carl Icahn has been backing up his comments from late 2014 and throughout 2015 about the dire straits of the U.S. economy and the High Yield Junk Bond market with a massive short bet. The anonymous collective know as Zero Hedge astutely noticed a record short position recorded in the most recent SEC filings for Icahn Enterprises LP IEP.
Zero Hedge notes:
"[Icahn's position back on] December 31, 2015 was a modest 25% net short, has since exploded into a gargantuan, and unprecedented for Icahn, 149% net short position."
So Icahn has taken his short exposure to an extreme, right as the iShares iBoxx $ High Yid Corp Bond (ETF) HYG posts historic outflows total of $3.6 billion since April 28:
Source: Deutsche Bank
To read the full Zero Hedge report, click here.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.