Most hedge fund strategies experienced positive returns so far in Q1, as the first quarter of 2019 is coming to an end, said Lyxor. The recent turnaround in the global monetary stance, led by the Fed and more recently by the ECB, has further fueled the fixed income and credit market rally, said Lyxor in its monthly Hedge Fund Brief. 10-year bond yields in Germany are back to levels last seen in 2016, when deflation was a serious threat to economic activity.