by Pam Martens and Russ Martens, Wall St On Parade:

According to a report at the U.S. Treasury’s Office of Financial Research (OFR), the Gross Notional Exposure at hedge funds has skyrocketed by 24.5 percent in the span of one year: from $22.946 trillion on March 31, 2023 to $28.579 trillion on March 31, 2024. (Run your cursor along the top green line at this link to observe the stunning growth in hedge fund exposures despite the banking crisis in the spring of 2023 when the second, third and fourth largest banks blew up.)

Gross Notional Exposure (GNE) is defined by OFR as “the sum of the absolute value of long and short exposures, including those on and off the balance sheet.”