*BILLIONAIRE INVESTOR BILL ACKMAN SAYS HE IS SHORTING 30-YEAR TREASURIES 🇺🇸🇺🇸
NEW YORK - Billionaire investor William Ackman on Wednesday said his hedge fund Pershing Square Capital Management has placed a bet against U.S. 30-year Treasuries, calling it both a hedge on the impact of higher long-term rates on stocks and a good standalone bet.
"We are short in size the 30-year T," Ackman wrote on messaging platform X, formerly known as Twitter. He argued that if long-term inflation is 3% not 2%, the 30-year Treasury yield could rise to 5.5%, adding"and it can happen soon." On Wednesday, the yield on the 30-year Treasurys climbed to 4.16%, the highest close of the year.Ackman said higher defense costs, energy transition and the greater bargaining power of workers all point toward higher inflation.
Ackman, once one of Wall Street's most voluble investors who cemented his reputation as an activist investor by pushing for changes at companies ranging from Chipotle Mexican Grill (NYSE:
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