(Bloomberg) -- It is going to be a really, really bad quarter for some U.S. hedge funds that invest in fixed-income securities, and waning market liquidity has a lot to do with it, according to Dan Fuss, vice chairman of Loomis Sayles.

“It is probably going to be the worst quarter in history for a number of the fixed income-oriented hedge funds,” Fuss said at an event in Tokyo on Thursday. “A few are already known but there are some that were wiped out and just wound down.”

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