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Global financial markets delivered mixed performance in June, trading within a wide and volatile intramonth range as investors positioned for the record IPO of SpaceX and other offerings expected through midyear. Global equity markets also posted mixed results, as Technology and AI-related sectors oscillated between risk-on and risk-off sentiment, while also responding favorably to falling Oil prices and positive developments in the Iran military conflict. Short-duration interest rates rose, while longer-dated maturities were little changed, as inflationary pressures remained a key focus for investors. The U.S. dollar strengthened against most major currencies. Oil posted a sharp decline, leading commodity declines. Gold and other metals also declined, while agricultural commodities delivered mixed performance.

The HFRU Hedge Fund Composite Index declined -0.15% in June.

• HFRU Relative Value Index declined -0.04%
• HFRU Equity Hedge Index declined -0.07%
• HFRU Event Driven Index declined -0.39%
• HFRU Macro Index declined -0.40%

Comments reference performance as reported on June 30, 2026