Clarium notches gain


Lingering effects of the widening of credit spreads and the surprising reversals of trends in interest rates and the Yen either helped or hurt macro managers in April, depending on what side of the trade they were on. Those on the positive side include Clarium Capital, which notched a 2.31% gain in April, bringing its year-to-date gain up to 32.10%. Warren Mosler's III Relative Value/Macro Fund Ltd. gained 0.60% in April and is up 2.12% this year. Bridgewater's Pure Alpha Trading Company Ltd. also ended the month in the black, posting a 0.69% gain for the month. It