REUTERS/Lucas Jackson Hedge funds are piling into the same bets ahead of the inauguration of President-elect Donald Trump. There are "extreme market positions in all asset classes," according to Societe Generale. It said the "extreme positioning inevitably raises the question of whether investors have run ahead of themselves." The popular trades include: "Net short positions on 10-year Treasury notes are at historical highs, implying that rising US bond yields remains among hedge funds' major convictions." "Hedge funds have (very) high expectations for the domestically oriented US small caps of the Russell 2000." "Historically long on copper and oil." The logic behind these trades is obvious.