Hedge funds gained again last week as rising equity markets and falling bond yields pushed strong performance at CTAs and global macro funds, according to new research from Lyxor Asset Management. The company’s Lyxor Hedge Fund Index gained +0.4% for the week through October 17, pushing its YTD tally to +2.9%. Directional strategies continue to outperform others, Lyxor noted in its Weekly Brief, due in part to a pervasive risk-on stance. CTAs were the standout last week, gaining +1.7% on the strength of net long equity and fixed-income positions and broad momentum in financial markets.