Bill Ackman, founder of Pershing Square, has covered his bet against long-term Treasurys and believes investors may increasingly buy bonds as a safe haven due to growing geopolitical risks, such as the Israel-Hamas war. Ackman initially bet against 30-year Treasurys in August, predicting higher yields due to long-term inflation. The 30-year Treasury yield has risen over 80 basis points since then, making Ackman's bet profitable. However, he has now covered his position due to concerns about the economy, which he believes is slowing faster than recent data suggests.
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