Bill Ackman's Bond Short Covered Amidst Global Risk, Thai Airways Unaffected by Israel-Hamas Conflict

Billionaire hedge fund manager Bill Ackman has covered his short position in long-term Treasury bills, citing too much risk in the world and a fast-deteriorating economy. Ackman had previously bet on elevated yields due to higher levels of long-term inflation, but with bond yields surging and the benchmark 10-year rate surpassing 5%, he believes the economy is slowing faster than recent data suggests. The Federal Reserve's decision to keep benchmark rates higher for longer to combat inflation has contributed to the rise in bond yields.