MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, September 16, 2010 Bill Gross Goes on a Diet Bill Gross slashed U.S. government-related debt holdings in the world's biggest bond fund for the second month in a row. Gross' move was picked up by The Wall Street Journal. U.S. government-related debt holdings for the $247.9 billion Pimco Total Return Fund fell to 36 percent in August from 54 percent in July and 63 percent in June, which was the highest level since October 2009. The WSJ notes that the benchmark 10-year note's yield, which moves inversely to its price, traded at 2.418 percent on August 25, the lowest level since January 2009. Robert Michele, global chief investment officer at J.P. Morgan Asset Management, was quoted in the article as saying that bond yields are likely to stay low given the weak economy and tame inflation outlook. Printed from: MFWire.com/story.asp?s=33450 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |