Billionaire Ray Dalio's Bridgewater Associates, the largest hedge fund manager in the world, added a new position in General Motors Corp GM.N, Ecolab Inc ECL.N and Johnson Controls International PLC JCI.N while selling out of its position in media companies, including the New York Times Co, News Corp and Discovery. Bond yields, meanwhile, rose to reflect rising inflation expectations, increasing borrowing costs for consumers and companies. Consumer prices rose in April by the largest measure in 12 years, prompting some mutual fund managers to increase their cash positions and turn more defensive.