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Hedge funds score big win on obscure trade as North Korea nuclear risk is raised

Hedge funds bought insurance against a South Korean default Wednesday as tensions around North Korea increased. An obscure safety trade against fallout from a North Korean nuclear attack leaped Wednesday to its highest in more than a year.

Hedge funds bought South Korea's five-year credit default swap, sending the cost of protection against the country's inability to pay back loans up 8.63 percent to 62.74, its highest since June 2016....

https://www.cnbc.com/2017/08/09/hedge-funds-score-big-win-on-trade-as-north-korea-nuclear-risk-is-raised.html