TTF selloff: tactical pause?

HOT TAKE: Hedge funds liquidate big chunk of TTF long position, but this is not a structural reversal — yet

Investment funds liquidated a sizeable chunk of their gargantuan net long position in European gas futures last week, as the front TTF month contract crashed by 12% across three hectic trading sessions.

This quick-fire Hot Take examines yesterday’s Commitment of Traders report to gauge whether last week’s chaotic selloff marks a structural shift in the l…