Woodbine Adds to China Equity Shorts, Shorts the Yuan

Almost every global macro fund has exposure in Japan and the most bullish ones have taken the largest losses so far. We have mentioned the underperformance of Argonaut Capital and TT International in June, both of which have exposure in Japanese equities. Another macro fund that suffered largely because of its positions in Japan was Woodbine Capital, the fund slid 2.8 percent last month, trimming its year to date returns to +6.5 percent. This was the largest monthly decline YTD. Woodbine shorts China, Aussie, long Japan The positive movers for Woodbine Capital were its shorts in Chinese equities and the…