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[tomm]

re Rates

I am long bonds but to hedge them I bought RYJUX; a fund that shorts bonds. It is structured so that for each 1% rise in the US Treasury 10 year bond the fund will rise ~10%, net of expenses - so a $10K investment in the fund hedges (protects) $100K in bonds. This has worked well recently for me as the fund has risen more than my bonds have fallen.

I have gone to almost 30% cash as I sold most of my China, aluminum and copper holdings - they were a nice ride - but holding cash is hard.