Are you a debt trader? Specialize in emerging markets? Know enough about Hungarian monetary policy to discern that the said country’s National Bank wouldn’t just keep fucking printing an unlimited number of interest-rate swaps, unlike this jabroni?
Hedge fund manager Uberto Palomba has left Citadel LLC after suffering losses on a Hungarian trade, according to a person with knowledge of the matter…. Hungarian interest-rate swap rates rose the most in almost three years at one stage last month after policy makers decided against boosting an offer of the instruments. That bruised hedge funds who had bet on an expansion of the program, which was aimed at reducing long-term borrowing costs.
He was one of a number of traders who contributed to Citadel’s single-strategy global fixed-income fund, which still made 13 percent last year and almost 5.8 percent in January.