As we all know, interest rate hikes are the biggest killer of bull markets。In general, a central bank rate hike will lead to a reduction in liquidity in the market, which will have a dampening effect on the overall economy and thus depress the stock market。Now, this round of interest rate hikes in the United States has reached its peak, the impact on the economy is gradually showing, although at the beginning of the year out of a wave of bull market, but the recent performance of U.S. stocks is not very bright。In this case, there are already institutions that are starting to collect rice and even start shorting some areas。According to Goldman Sachs' latest report, as of October 13, hedge funds began selling shares of all types of food, beverage and tobacco companies at the fastest pace in 11 weeks, and it's not over yet, the report also said that these hedge funds have reached their highest level in three months on must-spend character short bets and one of their highest levels in nearly five years.。Typically, hedge funds are already exposed to significant risk by launching a short trade, let alone another sell trade。If consumer goods have to go down in the future, hedge funds will get amplified gains, but if the sector goes up in the future, these hedge funds will also get amplified losses.。So, this all-out bet that the consumer goods industry must go down is okay to play well, and if you don't play well is to push yourself to the fire pit So why are these hedge funds so sure that consumer goods will go down?？The reason is simple, because these stocks typically have higher payout ratios than U.S. Treasury yields, and many investors buy these consumer goods to eat dividends。But with the recent surge in yields on government bonds, the stock payout ratios for these consumer goods are no longer attractive。