Markets remain mired in an intertwined “make or break” moment, creating pricing anomalies that could result in further rotations at the macro, sector and factor levels, according to the latest edition of Lyxor Asset Management’s Weekly Brief. The Lyxor Hedge Fund Index was up +0.5% last week, led by Global Macro (+1.4%) and CTAs (+0.4%). CTAs thrived on FX positions, including GBP crosses, and to a lesser extent, on bonds, while Macro funds thrived on Brexit risks. For the year to date, the Hedge Fund Index is down 0.2%, pulled down by a -3.9% YTD drop in the L/S Equity...