Global Macro Hedge Funds See Losses As Greece Staggers

The developing story of the Greek debt crisis, which has gotten even more puzzling after the referendum, has governed the global macro investing theme for the past few months. However, the result of the referendum seemed to have little impact on the Forex market where all the major shake-ups were expected. The euro initially sold off and fell 1%  but climbed back to 1.1068 later in the day. Other Eurozone countries which are also facing financial troubles with the European Union experienced pressure in their bond markets. Yields of 10-year bonds rose in Spain and Italy.

Global macro hedge fund index fell in tandem with S&P 500

In the U.S., investors and...