Capital flows show billionaire Ken Fisher's firm made a contrarian $4 billion bet on long-term U.S. Treasuries

Odaily News: Billionaire Ken Fisher's eponymous firm appears to be betting on a rally in the longest-dated U.S. Treasuries, seeking to capitalize on opportunities presented by yields near 20-year highs through a contrarian move. Earlier this month, Fisher Investments was the primary driver behind a record $4 billion inflow into a BlackRock exchange-traded fund (ETF) that invests in U.S. Treasuries with maturities of 20 years or longer.

Meanwhile, a separate BlackRock U.S. Treasury fund with a shorter average duration saw outflows of a similar magnitude, indicating a shift of funds toward the longer end of the yield curve. A spokesperson for Fisher Investments said the company cannot comment on individual securities due to its fiduciary duty to clients. (Cailian Press)