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The insiders' edge for 40 Act industry executives!
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Thursday, June 10, 2010 Pimco Changes its Treasury Bet as BlackRock Pulls Ahead Pimco has reversed its stand on whether Treasuries are a good bet and started to buy them. Pimco Treasury and derivatives trading head Steve Rodosky told the Wall Street Journal that he changed his outlook on Treasuries to "neutral" from "underweight." Pimco's bearish outlook on Treasuries had been a differentiator from rival Blackrock. Curtis Arledge, Blackrock's fixed income CIO, told the paper in March that it was adding the bonds after being heavily underweight Treasuries in 2009 even as Pimco's Bill Gross derided the instruments. So far this year BlackRock Total Return has beaten Pimco Total Return by roughly 80 basis points. "We took risk off the table, and as part of that, Treasurys got some of the flows," Rodosky told the paper. "The combination of safety and yield, when you compare the U.S. market to other markets around the globe, the U.S. market still looks appealing." Printed from: MFWire.com/story.asp?s=32464 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |