Vega Asset Drop Approaches $1 Billion

According to hedgeworld.com redemptions and losses by Vega funds in May and June approached approximately $ 1 Billion.
Vega told investors that in the past month their portfolios were adversely affected by the yield of the U.S. 10-year Note dropping 30 basis points and the spread between the two-year maturity and 10-year maturity in the U.S. swap curve flattening. This happened while the spread between U.S. and Euroland 10-year maturity swap rates moved down to a negative 1.23% in the U.S. market.