Tudor Bond Trader Phillips Has Lost $140 Million in April

Tudor Investment Corp. trader Alexander Phillips lost about $140 million in April through earlier this week as President Donald Trump’s tariff barrage hammered financial markets, including US Treasuries.

The mark-to-market losses on Phillips’ trading book erased his pre-April gains for 2025, and he was down by about $80 million for the year as of earlier this week, according to people familiar with the matter, asking not to be identified discussing private details.

He remains at the firm, working to recoup his losses.

“While markets have been volatile, Alex Phillips has not been stopped out and continues to actively trade ...