May 18, 2022 12:02 PM EDT

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Monthly Report - April, 2022
			     Global Macro Trust 


					        Current Month     Year to Date
   Gain (loss) on trading of futures, forward 
   and option contracts: 						
   Realized gain(loss) on closed contracts $        5,653,598        9,979,862
Change in unrealized gain (loss) on open              121,592        2,658,519
Net gain (loss) from U.S. Treasury               
   Realized gain (loss) from U.S.Treasury                   0            (541) 
   Change in unrealized gain (loss) from U.S.        (73,707)        (187,774)
      Treasury obligations 	       		
Interest Income (Expense)		               57,865          123,153
Foreign exchange gain (loss) on margin deposits      (45,681)         (79,509)
				                 ------------    -------------
Total: Income 				            5,713,667       12,493,710

   Brokerage commissions 		              362,455        1,383,915
   Management fee 			               42,203          157,971
   20.0% New Trading Profit Share 	              251,541          285,412
   Custody fees 		       	                  721            7,433
   Administrative expense 	       	               67,433          266,275
					         ------------    -------------
Total: Expenses 		                      724,353        2,101,006
Net Income(Loss)			   $        4,989,314       10,392,704
for April, 2022

			             Managing           Unit
				      Owner 	      Holders	     Total
Net Asset Value (81,404.317    $     2,660,856    102,846,806    105,507,662
units) at March 31, 2022 	 
Addition of 		 	             40         24,853         24,893
10.501 units on April 1, 2022	
Redemption of 		 	              0      (686,143)      (686,143)
(568.647) units on  April 30, 2022*		
Net Income (Loss)               $       141,331      4,847,983      4,989,314
for April, 2022
         			   -------------   -------------   -----------

Net Asset Value at April 30, 2022     
(80,877.079 units inclusive 	  	
of 30.908 additional units) 	      2,802,227    107,033,499    109,835,726
				  =============  ============= ==============
                      Year to Date     Net Asset 		        
Series	  April ROR	  ROR	    Value per Unit    Units 	 Net Asset Value
--------- ----------  ------------  --------------  -----------   -------------
Series 1    4.80% 	     9.99%  $  1,180.13	   62,667.477 $    73,955,821
Series 3    4.14% 	    10.26%  $  1,849.41	   10,279.569 $    19,011,133
Series 4    5.31% 	    12.09%  $  2,501.07	    4,080.856 $    10,206,517
Series 5    4.10% 	     9.81%  $  1,730.83	    3,849.177 $     6,662,255
* Series 1 units redeemed on or before the eleventh
month-end following their sale may be charged a 
redemption fee of from 4% to 1.5% of Net Asset Value,
depending on investment amount, length of ownership
and type of account purchasing the units. 

To the best of my knowledge and belief, 
the information contained herein is 
accurate and complete.


	/s/ Harvey Beker
	Harvey Beker, Chairman 
	Millburn Ridgefield Corporation
	Managing Owner 
	Global Macro Trust

			Millburn Ridgefield Corporation
			55 West 46th Street, 31st Floor
			      New York, NY  10036     
					May 14, 2022

Dear Investor:
Gains from trading foreign exchange forwards, commodity futures and, to a 
lesser extent, equity futures. On the other hand, trading of interest rate 
futures was unprofitable. Throughout the month investors focused more and 
more on the growth dampening impacts of: inflation; an increasingly hawkish
monetary policy stance from global central banks led by the Federal Reserve; 
China's economic slowdown due to the expanding COVID-19 lockdown strategy 
on top of a property sector collapse; and Russia's war on Ukraine and 
broadening sanctions.

Since the war in Ukraine is expected to have a much greater negative impact on 
European growth than U.S. growth and since the Fed is likely to remain more 
hawkish than the ECB, long U.S. dollar positions against the Euro and Swiss 
franc were profitable. A long dollar trade versus the Japanese yen was 
profitable too as the Bank of Japan continued to pursue an expansive monetary 
policy at the same time that the Federal Reserve was becoming decidedly more 
restrictive. As commodity prices stabilized somewhat, albeit at high levels, 
long U.S. dollar trades versus several commodity currencies such as the Aussie 
dollar, Canadian dollar, South African rand and Norwegian krone also posted 
gains. A long U.S. dollar/short Singapore dollar trade was profitable too. 
On the other hand, short dollar positions against the Brazilian real, British
pound, New Zealand dollar and Polish zloty were slightly unprofitable.

Energy prices were volatile during the month as concerns about supply 
limitations, particularly from Russia and Iran, on the one hand confronted 
demand worries due to slowing growth, especially in China, on the other. 
On balance, long positions in natural gas, Brent crude, WTI crude, RBOB 
gasoline and heating oil were profitable.

Trading of grain futures was profitable. A long soybean oil position was 
particularly profitable in the wake of news that Indonesia banned exports 
of palm oil in a bid to ensure domestic supply. Both palm oil and soybean 
oil are used for cooking as well as food preparation, and are in high demand 
as substitutes for sunflower oil, a commodity whose supply has been 
negatively impacted by the ongoing Russian war on Ukraine. Long positions 
in corn and soybeans were also profitable. On the other hand, trading of 
wheat and soybean meal posted small losses.

The slowing growth outlook, rising interest rates and a rising dollar weighed 
on metal prices. Short positions in silver, gold and copper were profitable, 
while a long aluminum position registered a partially offsetting loss.

Against the background of slowing growth, rising interest rates, war 
uncertainties and slowing earnings, global equity markets declined sharply, 
volatility increased and trading of equity futures was mixed though 
fractionally profitable. Short positions in Brazilian, Korean, Japanese, 
British, EAFE and emerging market index futures posted gains. Trading in U.S. 
equity futures was also marginally profitable. On the other hand, a short 
VIX index position and a long Canadian stock index futures position produced 
partially offsetting losses.

With global central banks led by the Federal Reserve attacking rising 
inflation, interest rates climbed sharply during April, with trading
turning increasingly volatile during the second half of the month. Long 
positions in German, British, Italian, and Australian note and bond futures 
were unprofitable. On the other hand, short positions in short-term 
European, U.S., Canadian and Australian interest rate futures
posted partially offsetting gains.

   				 Very truly yours,
				       Millburn Ridgefield Corporation
					Harvey Beker, Chairman 

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