Long Gold, Short the S&P 500 and Other Hedge Fund Trends

`` In terms of treasuries, hedge funds were long the 2 year treasury and short both the 10 year and 30 year treasuries. Specifically, they have reduced their short exposure in the 10 year and have increased their short exposure in the 30 year. They also slightly decreased their long in the 2 year. Overall, this trade is still in line with the curve steepeners we've been talking about for months now.''