July 17, 2013 / 1:57 PM / 4 years ago

Bridgewater's McCormick says hedge fund is long U.S. Treasuries

BOSTON, July 17 (Reuters) - David McCormick, co-president of Bridgewater Associates, said on Wednesday that the hedge fund is long U.S. Treasuries even after the market sold off recently.

McCormick, a former U.S. Treasury official, speaking at the CNBC Institutional Investor Delivering Alpha Conference, also said he thought the recent sell-off in the Treasury market was overdone.

The sell-off was sparked by fears that the Federal Reserve would start to slow its $85 billion in monthly bond purchases amid signs that the U.S. economy is recovering.

Fed Chairman Ben Bernanke tried to calm those fears last week when he said that the U.S. central bank would pursue an easy money policy for some time to come.

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